Now everyone knows by now that economic predictions on the number of jobs to be produced in a given month can be somewhat inaccurate. During the Trump administration the analysts consistently underestimated (and underreported) the number of new jobs. Every single month of PDJT’s presidency, the actual numbers were higher than the numbers initially reported. During the recovery from the pandemic induced layoffs, the predicted number were astonishingly lower than the actual numbers.
Now the situation has been reversed. With a senescent Democrat in Office, the analysts were predicting 978,000 new jobs in April along with a 5.8 % unemployment rate. The actuals were a bit different. Only 266,000 were added and unemployment moved upward to 6.1%. Yes, Biden and the Democrats are successfully killing the economic resurgence.
The Avatar tried to put a major league spin on the numbers. “You might think we should be disappointed,” Biden said of the numbers, but claimed the “American Rescue Plan was designed to help us over the course of a year—not 60 days.”
“Today, there is more evidence our economy is moving in the right direction,” Biden said, while acknowledging, however, that “it is clear we have a long way to go.”
LMAO Biden starts his speech about the jobs numbers by saying, "I want to put today's jobs report in perspective," says the report is another step in the economy showing "progress" since he took office, and proves why more money needs to be printed and injected into the economy. pic.twitter.com/5AJg3kd3pI
— Curtis Houck (@CurtisHouck) May 7, 2021
The economy was moving the right direction before Biden was “elected.” It has now reversed course. In April:
Unemployment increased
18,000 manufacturing jobs were lost
The cornerstone of the roaring economy that PDJT created, was the increase of higher paying jobs in the manufacturing sector. The Democrats have successfully neutered that by threatening to significantly increase taxes on business. The current threat is a 33% increase in the tax rate. Companies that were planning to expand operations in the US, have now changed plans and moved to expanding outside the US.
With more states opening up the economy should be expanding not contracting.
Another problem is the “enhanced” unemployment pay underwritten by the federal government. Speaker Pelosi would like to continue that boondoggle and is now using the April jobs report to push another trillion dollar boondoggle in Congress. This alone should tell everyone that the economy may be crashing.
Employers have pointed out the unemployment problem.
As one wag said, “If the government is going to pay you to stay home, you’re going to do that unless a really good job comes along.”
The Democrats want to put people back on the plantation where they can control them and tell them what to do.