Joe Biden’s presidency has been a complete catastrophe for Democrats.
And it’s only getting worse.
A new economic disaster may be the nail in the coffin for Joe Biden.
It’s been less than a year since President Joe Biden has taken office and already he’s a disaster.
Abroad he’s tarnished America’s dignity by abandoning our own citizens in Afghanistan and emboldening our enemies by handing over tens of billions of dollars’ worth of weaponry to the Taliban.
At home, Biden has caused a crisis at the southern border with the historic number of illegal immigrants streaming in while the middle class is squeezed by inflation.
Even the expected recovery is suffering under Biden’s hands.
The Labor Department released its monthly labor assessment Friday and found that the U.S. economy only added 235,000 jobs in August.
This was less than half the jobs that economists expected to be created.
“The median Econoday forecast of analysts was for 740,000 jobs and an unemployment rate of 5.2 percent, according to Econoday. The private payrolls report from payroll processor ADP on Wednesday, however, pointed to a much weaker number, with ADP estimating just 374,000 jobs, missing estimates for 500,000.” Breitbart reported.
However, it’s quite possible that the survey overestimated the number of jobs created since the survey was taken mid-August and the economy slowed down later in the month.
“In August, employment in leisure and hospitality was unchanged, after increasing by an average of 350,000 per month over the prior 6 months. In August, a job gain in arts, entertainment, and recreation (+36,000) was more than offset by a loss in food services and drinking places (-42,000). Employment in leisure and hospitality is down by 1.7 million, or 10.0 percent, since February 2020,” the Department of Labor reported.
“The labor market recovery hit the brakes this month with a dramatic showdown in all industries,” Daniel Zhao, senior economist at jobs site Glassdoor, told CNBC. He went on to blame the rise of the Delta variant of COVID-19 for the stunted labor market performance.
“Ultimately, the Delta variant wave is a harsh reminder that the pandemic is still in the driver’s seat, and it controls our economic future,” he said.
However, many blame Biden and not the coronavirus for the stall in economic recovery.
Rep. Greg Murphy, R-N.C., on Friday said Friday’s jobs report indicates an “America Last” economic agenda from the Biden administration.
“President Biden’s abysmal August jobs report exposes the weakness of his ‘America Last’ economic agenda,” Murphy said in a Friday statement. “By paying people not to work … Biden has disincentivized workforce participation and severely hindered our economy. Now American families and small businesses are paying the price.”
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