The Bureau of Labor Statistics released numbers on the current employment situation with an August job report that provided “meager” additions and indicated a “massive slowdown” under the Biden economy, according to Axios.
The BLS report indicates total nonfarm payroll employment rose by 235,000 in August, well below the 725,000 total ‘experts’ had been projecting.
The numbers mark a tremendous drop-off in hiring and hint that President Biden’s economic policies aren’t working, though commentators blame the pandemic for wreaking havoc on the jobs market.
“It’s the first jobs report to factor in the extent of the COVID-19 surge driven by the Delta variant,” Axios explains, “showing a massive slowdown in the recovery after July’s blockbuster jobs report.”
June featured 962,000 new jobs added, while July exceeded that with 1.05 million, meaning the August numbers mark a whopping 815,000 job drop (nearly 78%).
The Biden economy is shaping up to be a disaster even though the President pledged a 100-day mask challenge, a vaccination drive, and his tax and spend policies would help to navigate the pandemic and lead us out of a “dark winter.”
The normally Biden-cheerleading media reaction should give you some idea of how bad the news is.
CNBC described the jobs report as “terrible news.”
CNN called it a “big miss” and a “disappointment.”
A Fox Business panelist said the August numbers were “abysmal.”
Another indicated it was a “worst-case scenario for economists.”
You get the picture.
Republican National Committee (RNC) Chairwoman Ronna McDaniel issued a statement on the August jobs report saying it was “a huge miss.”
“Because of Biden’s failed policies and reckless spending, there are fewer jobs and rising prices for everything from gas to groceries,” she said. “Americans are being left behind.”
Well, maybe not all Americans.
Based on the latest data, 16 of the top 20 states for recovering jobs from the pandemic are led by Republican Governors.
Tommy Pigott, Rapid Response Director for the RNC, believes President Biden would do well to look at the models being put forth by red states. And maybe steer away from what he’s been doing.
“Biden’s socialist schemes don’t work. Americans want policies that empower workers and small businesses, not trillions of dollars in reckless tax-and-spending sprees that only embolden the swamp at the expense of the rest of America,” said Pigott.
While the BLS report shows the unemployment rate ticking down from 5.4% to 5.2%, Michigan economist Betsey Stevenson notes that the number of people who don’t have a job but want one dropped significantly.
“Half the small businesses in America have jobs they can’t fill,” CNBC reports as critics have accused the Biden administration of essentially paying people not to work.
Aside from dismal job reports, gas prices and overall prices, in general, are on the rise under President Biden, wiping out any wage increases employees may have seen since he took office.
This latest news shows that Biden continues to squander the economic recovery he inherited from Donald Trump.
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