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With 1 Stroke of His Pen, Sleepy Joe Killed More Jobs in January Than the Economy Created


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Not that our readers are surprised, but Joe Biden has already proven to be a disaster for the American economy.

And an abysmal failure on jobs.

With his costly executive order to halt the Keystone Pipeline, Biden cost 52,100 American jobs.

In January, the U.S. economy only created 49,000 net jobs.

That’s a massive decline from December and puts Biden over the red for jobs in his first week of office.

Here’s some critiques on Biden’s putrid jobs record:

It’s clear Joe Biden doesn’t care about American workers or their families.

Others need to wake up and smell the roses.

And realize that Democrats have no problem wiping out thousands of jobs for hard-working Americans.

NPR reported on the stagnant economic recovery under Sleepy Joe:

Hiring resumed just tepidly last month after a slump in December, as the labor market faces a long climb to recover the millions of jobs lost during the pandemic.

U.S. employers added 49,000 jobs in January, after a revised drop of 227,000 the month before. Unemployment fell to 6.3%, from 6.7% in December, as hundreds of thousands of people left the workforce.

Industries that saw notable job gains in January include business and professional services and finance, but bars and restaurants continued to lose jobs.

While January’s job growth is an improvement, the U.S. has still recovered only 55% of the 22 million jobs that were lost last March and April. Another 1.1 million people filed new claims for unemployment benefits last week. Nearly 10 million fewer people are on payrolls now than were before the pandemic.

“We’re not anywhere close to where we want to be in terms of a healthy labor market,” said Julia Coronado, president of MacroPolicy Perspectives. “We can’t take this recovery for granted. We want to see numbers that are better than that as we come out of this.”

Economists also cautioned that last month’s jobs number may have been artificially inflated by seasonal adjustments.

Ordinarily, in January, restaurants, retailers and other businesses cut workers after a busy holiday season.

The Labor Department tries to adjust for that, but it may end up overcompensating this time around. Put simply, modest layoffs by bars, restaurants and other industries may have been worse than shown.

Revisions also showed that November’s job gains were weaker than initially reported and December’s job losses were worse. The report comes amid signs of a remarkably resilient economy, but with a labor market that still has a big hill to climb.

The Congressional Budget Office said this week that the country’s economic output will likely match pre-pandemic levels by the middle of this year without any additional government aid.

While in-person services like restaurants and entertainment have continued to struggle against a winter wave of coronavirus infections, the broader economy has bounced back more quickly than many economists expected when the pandemic began.

“In a recession, we typically see job losses leading to a loss of confidence, leading to increased caution, leading to more job losses,” Coronado said. “That’s the kind of accelerant that you see taking root that drives and spreads a recession.”

In this case, that downward spiral was partly short-circuited by trillions of dollars in government spending — including enhanced unemployment benefits, forgivable loans to small businesses and direct payments to most Americans.

“You put money in people’s pockets and they found a way to spend a lot of it,” Coronado said. “They spent it on different things — housing, cars and less [on] services and entertainment and travel. But that really was quite effective in preventing a much, much deeper recession and more transmission to other sectors.”

But CBO forecasters warned employment may not fully recover until 2024, and millions of families and small businesses continue to struggle.

Expect a long, rocky road ahead in a Biden economy.



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