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Biden Economy A Bust: Jobs Report For September Worst Numbers Of The Year

Fear of COVID-19, and a persistent shortage of workers are the main reasons for Friday’s terrible September jobs report. CNBC reports that the actual numbers are less than half what had been projected.

The Wall Street Journal reported that 194,000 new jobs were created in September. This is less than the 36,000 jobs created in August, which was the lowest gain since December 2020.

Last month’s unemployment rate was 5.2%. It fell to 4.8%. The Biden administration might be proud to boast about this figure, but the jobs report shows many Americans have given up on looking for work and left the job market.

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Not What ‘Experts’ Expected

Wall Street felt a little anxious after the employment report’s numbers. Senior economist at Capitol Economics Michael Pierce said, “This was the time when a lot of people were expecting labor shortages to be getting better but in fact they’re getting worse. It’s a pretty worrying situation.”

Although many employers will offer increased wages or other incentives, the bigger problem is evident.

Even some people in business were surprised by the abysmal job report. On CNBC’s “Squawk Box,” host Steve Liesman looked at the numbers and seemed to be surprised by what he saw. 

When he saw the numbers on air, he was visibly shocked. 

Take a look at:

Liesman described the situation as follows:

“It was definitely a weaker number than expected. Leisure and hospitality are not experiencing any real changes. Declines in nursing. We have seen declines elsewhere. There aren’t any significant declines in this area, but Becky, these numbers will not be enough to get people back on the job right now. September now coming in weaker than August … and I think that’s the big story here.”

In August, when job numbers also missed the expected mark, Liesman called it “a big miss.”

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Biden Economy Report: September Jobs

It is not a completely new report. This report is an extension of the August jobs survey. Axios reported at the time that the August numbers produced “meager” additions and “indicated a massive slowdown” in Joe Biden’s economy.

If those numbers indicated a massive slowdown, September’s numbers are cause for serious alarm.

Although August had been a good indicator that Biden’s economic policies weren’t working in August, poor results were attributed to the Pandemic and the Delta-variant surge of COVID-19.

Even the liberal media had a hard time propping up the numbers and used words like “terrible news,” “really weak,” “big miss,” and “disappointment.”

 

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