Jobs Beat: 177K Nonfarm vs. 133K Expected; Moore: “436K Employed — Amazing”; DOGE: “$660M in Loans to Dead People, Babies, and Fetuses”

The April 2025 jobs report crushed expectations: CNBC reported 177,000 nonfarm payrolls versus the 133,000 expected. Economist Stephen Moore called it “an amazing report — 436,000 increase in the number of people employed. The labor force participation rate rose. This is a really strong number.” He noted the media double standard: “Two weeks ago, every headline was ‘the stock market is crashing.’ Since then, the market is up 2,800 points. I don’t see headlines about that.” Separately, DOGE revealed that the Small Business Administration had issued $330 million in loans to people over 115 years old and $660 million total to “dead people, babies, and people with birth dates in the future — one case was the year 2165.”

Jobs Report Beats Expectations

CNBC broke the numbers live.

“The Jobs Report for April hitting the wires,” the anchor reported. “Nonfarm payrolls — a greater 177,000. We were expecting, as Joe pointed out, 133,000.”

He contextualized: “177,000 would be the second best of the year.”

The April jobs report was the latest data point contradicting the narrative that Trump’s tariff policy was destroying the economy. Media coverage had predicted job losses, recession, and economic contraction as consequences of the tariff escalation. Instead, the economy added 177,000 jobs — 33% above expectations — demonstrating that the labor market was not only surviving the tariff transition but strengthening through it.

Moore: “Amazing Report”

Economist Stephen Moore provided the deeper analysis.

“436,000 increase in the number of people who are employed,” Moore said. “So this is an amazing report.”

He highlighted the participation rate: “The labor force participation rate rose. So this is a really strong number.”

He then addressed the media’s market coverage: “About two weeks ago, every headline — Wall Street Journal, New York Times, Washington Post — was ‘the stock market is crashing.’ And since then, the market has been up what, like 2,800 points?”

He made the point: “And by the way, I don’t see headlines about that. That is the point. Scott Bessent made the same point yesterday.”

The 436,000 employment increase in the household survey was the broader measure that captured self-employment, farm work, and other categories missed by the nonfarm payrolls number. The combination of 177,000 payroll jobs and 436,000 total employment increase painted a picture of broad-based job creation across the economy.

The labor force participation rate increase was particularly significant. It meant that people who had been sitting on the sidelines — not working and not looking for work — were now entering the workforce. This contradicted the argument that tariff uncertainty was freezing economic activity. If anything, the data suggested that the administration’s policies were bringing people back into the labor market.

The Media Double Standard (Again)

Moore’s observation about the 2,800-point Dow recovery receiving no headlines was the same point Bessent had made the previous day. The pattern was consistent: market declines received wall-to-wall panic coverage, while market recoveries were ignored.

The journalistic rationale — that panic sells and recovery doesn’t — explained the behavior but didn’t excuse it. When a news organization published “worst market since the Great Depression” headlines and then failed to note the historic recovery, it was not practicing journalism. It was practicing propaganda — selectively presenting data to support a political narrative.

The Welfare Reform Interlude

The compilation included archival clips of Bill Clinton and other Democrats advocating welfare reform — connecting the current moment to a bipartisan tradition.

“I have a plan to end welfare as we know it, to break the cycle of welfare dependency,” Clinton was heard saying. “Those who are able must go to work.”

The inclusion of Clinton’s welfare reform rhetoric highlighted how far the Democratic Party had drifted from its own recent history. In the 1990s, welfare reform — requiring work as a condition of benefits — had been a bipartisan achievement signed by a Democratic president. By 2025, Democrats were opposing even basic accountability measures like the SAVE Act and defending welfare benefits for illegal immigrants.

DOGE: Loans to the Dead

The DOGE segment delivered the most absurd fraud findings yet.

“Is the Small Business Administration giving loans to dead people, people over the age of 120?” a DOGE employee asked rhetorically. “The answer was yes. It was around $330 million in total.”

Musk described the findings: “People with a birthday that could not possibly be real. They’re 115 years old or older. The oldest living American is 114. So safe to say, anybody in the system at 115 years or older, that is fake.”

The employee expanded: “Just by sharing a database and looking at Social Security numbers — at the time of the loan, they were listed as over 115 years old, or actually under 11.”

He added: “We didn’t even check for under 18 — under 11 years old. That’s pretty clear. Babies and dead people were getting loans. That was $660 million.”

The most extraordinary case: “Also people with birth dates in the future. I think in one case the birth date was like 2165.”

The journalist reacted: “George Jetson was getting paid.”

Musk confirmed: “Your birthday is in the far future — not like next year. This is either fraudulent or we have your birthday wrong. It’s either a typo or someone stealing. Which is it? You should at least ask.”

The SBA loan fraud was DOGE’s most vivid illustration of systemic government incompetence. The federal government was issuing hundreds of millions of dollars in loans to entities with birth dates that were physically impossible — people born before the Civil War, children under 11, and individuals whose birth dates were over a century in the future.

The $660 million total — combining the over-115 loans ($330 million) and the under-11 and future-birthdate loans — represented money that had simply vanished into fraudulent accounts. No legitimate business loan applicant had a birth date of 2165. Every one of those loans was stolen money.

Key Takeaways

• April jobs: 177,000 nonfarm payrolls vs. 133,000 expected. Moore: “436,000 increase in employed — an amazing report. Labor force participation rose.”
• Moore on media: “Two weeks ago, ‘stock market crashing.’ Since then, up 2,800 points. I don’t see headlines about that.”
• DOGE found SBA loans to people over 115 ($330M), under 11, and with birth dates in the future (2165) — $660M total.
• Musk: “The oldest living American is 114. Anyone in the system at 115 or older is fake.”
• Clinton welfare reform clips highlighted how far Democrats have drifted: “Those who are able must go to work” was once bipartisan consensus.