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Disastrous Jobs Report Throws Another Problem on Biden’s Pile

The following article, Disastrous Jobs Report Throws Another Problem on Biden’s Pile, was first published on Flag And Cross.

Joe Biden certainly didn’t think it would end up like this when he was railroaded into a nomination that it didn’t appear that he wanted in the first place.

No, Biden must have surely been talked to the role with promises that there’d be nothing to worry about.  That there was no way he’d have to do anything but pay lip service to the nation while systematically undoing the various Trumpian measures that his base has been clamoring about.

He didn’t think he’s be abandoning Americans in Afghanistan and then begging those here in America to go back to work.

Now, to add to his list of issues, the Augusts job report has a foul, foul stench to be assuaged.

The new jobs report is in for August, and lackluster might be one word to describe it. “Huge disappointment” (CNBC) and “surprisingly weak” (the AP) are others. The key numbers:

  • New jobs: Employers added 235,000 jobs for the month, but that is far below expectations of 720,000 or so. As the Wall Street Journal notes, the figure is also a steep drop of 1.1 million gains in July and 962,000 in June.

  • The rate: The unemployment rate still managed to drop from 5.4% to 5.2%.

  • Culprit: No surprise that the delta variant is getting the lion’s share of the blame. The leisure and hospitality industries in particular fared badly, as new hiring effectively stalled. Unemployment in that sector rose to 9.1%

The White House appeared to be trying to take the failure in stride, suggesting that the pullback was due to the surging delta variant of COVID-19.

 

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