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Biden After Jobs Projections Missed by 500,000: “The Biden Plan is Working, We’re Getting Results”


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It’s official.

The United States only created 235,000 new jobs in August.

This was after the Biden administration expected and predicted 720,000 new jobs.

In other words, the jobs report was off by 500,000 jobs!

Now, economists all over the country are worried.

It doesn’t matter what party.

Economists are fearful of what the future looks like.

But Joe Biden doesn’t think anything is wrong.

In fact, he said in a speech today:

The Biden plan is working. We’re getting results.

Really?!

What kind of results?

Underperforming expectations?

I don’t know about you, but I remember the days when President Trump EXCEEDED expectations time and time again.

He got historic economic numbers.

President Trump even presided over historically low unemployment rates.

He defied the odds.

But Biden?

He’s falling short… again and again.

See Biden attempt to defend himself below:

Fortunately, many people are finally waking up to the disaster.

But is it too little, too late?

Don’t forget:

*They* accuse President Trump of being a liar.

But he is nothing compared to the ravings of Joe Biden.

The numbers speak for themselves.

According to the Daily Mail:

The U.S. job market saw hiring slow to 235,000 jobs in August, a sharp drop off after two strong months with the Delta variant of the coronavirus to blame.

Still, President Joe Biden said it represented good news.

‘What we’re seeing is an economic recovery that is durable and strong. The Biden plan is working, we’re getting results,’ he said at the White House Friday morning.

The unemployment rate dropped to 5.2%, the Labor Department reported Friday, but the predictions for the job market failed to meet expectations by a significant margin.

‘There’s no question that the Delta variant is why today’s jobs report wasn’t stronger,’ Biden said.

Economists surveyed by Dow Jones had been looking for 720,000 new hires.

Biden addressed the job numbers in a speech at the White House on Friday before heading to New Orleans to view the damage from Hurricane Ida.

Biden used much of the speech to press Congress to pass his $3.5 trillion spending package, which moderate Democratic Sen. Joe Manchin told party members Wednesday they should take a ‘pause’ on, citing inflation concerns.

The Democrats need Manchin to vote yes to get the giant bill across the line using the process of reconciliation to bypass the Senate filibuster.

Biden argued the package was pivotal to the nation’s longterm economic recovery, while talking about how the U.S. should pay for it: by taxing corporations.

‘The fact of the matter is, it’s about time they being to pay their fair share,’ Biden said.

He cited how 55 of America’s largest corporations paid zero in federal taxes.

‘The irony of ironies is during the recession in the pandemic – you’ve heard me say this before, I apologize for repeating it – while the vast majority of Americans are struggling to hang on, the number of billionaires in America actually grew,’ Biden said laughing.

‘I want to hold here for just a second,’ he continued. ‘There have been so many records the stock market has hit under my presidency. Imagine if the other guy was here? “We’re doing great, it’s wonderful, the stock market is surging, it’s gone up higher under me than anybody.” But that doesn’t mean that it’s the best for the economy,’ Biden said mocking former President Donald Trump.

He added that the ‘stock market has hit 40 record highs just this year.’

Biden then returned to talking about the $3.5 trillion plan, noting how Republicans aren’t supporting it and corporate lobbyists are seeking to derail it.

‘Somebody’s got to pay,’ he said.

He said while lobbying efforts have been successful in the past, ‘I don’t think it’s going to work with me.’

‘To those big corporations that don’t want things to change, my message it this: It’s time for working families, folks who built this country, to have their taxes cut,’ Biden said. ‘And those corporate interests doing everything they can to find allies in Congress to keep that from happening, let me as president be perfectly clear: We’re going to take them on, we’re going to pass these measures.’

Biden argued the rich would still live comfortably.

‘They are still going to have three homes and four homes if they want,’ he said.

‘But just pay a fair share,’ he urged.

The president tied it back to the August jobs report, saying that Congress needed to ‘finish the job, come through for the American people to ensure the economy continues to gain strength and stability as we move forward.’

The August employment report was expected to show another strong month for hiring, but Wall Street was also watching it for signs of how the Delta variant of the coronavirus has effected the economy.

The coronavirus has been a wild card for economists and the Delta variant has caused the case rate to soar around the country.

Many localities have re-issued mask mandates and other mitigation measures. Consumer spending and confidence have dropped as the case number rise. Dining numbers were down for August as were travel numbers, a notable stat during the summer vacation season.

Other indicators of life returning to normal have taken steps backward: many businesses have delayed returning to the offices while concert tours have been cut.

Keep in mind that Biden has multiple defenders.

Hollywood is protecting him.

The media is protecting him.

Yet his poll numbers continue to plummet.

Why?

Because the American people are feeling the pain and devastation of Biden’s policies in their lives.

Things are so bad that even CNN is admitting that economists are worried.

If CNN reports the truth, you know things are getting bad.

According to CNN:

America’s jobs recovery hit a major roadblock in August as the Delta variant threatened the labor market recovery, and the US economy added far fewer jobs than expected.

Only 235,000 jobs were added back to the economy last month, the lowest number since January, vastly missing economists’ expectations.

“Delta is reducing consumer demand and threatening the reopening,” said Glassdoor Senior Economist Daniel Zhao. “Ultimately it’s just a harsh reminder that the pandemic has control of our destiny,” he told CNN Business.

In normal times the August report would have been a reason to celebrate, but nowadays it’s a sharp slowdown from the buoyant jobs reports earlier in the summer. Friday’s report fell far short of economists’ already reduced expectations: Predictions for Friday’s jobs report had been revised down to 728,000 from 750,000 earlier after Wednesday’s ADP Employment Report, which count private payrolls, also disappointed.

Nearly a year and a half into the recovery, the US economy remains 5.3 million jobs short of where it was in February 2020, before Covid-19 threw a wrench into the gears.Last month, 5.6 million people said they hadn’t been able to work or worked reduced hours because their employer was affected by the pandemic.

Amid all the bad news, there were also some silver linings: The unemployment rate fell to 5.2% in August from 5.4% before, the Bureau of Labor Statistics reported Friday. Also, the job gains for July were revised up to 1.1 million, the first gain of a million jobs or more since August 2020.

Meanwhile, the leisure and hospitality industry, which led job gains during much of the recovery after the sector got hit the hardest during lockdowns, wasn’t among the top hirers in August. Instead, professional and business services, transportation and warehousing, private education and manufacturing recorded the biggest job gains. In leisure and hospitality, jobs were mostly unchanged in August, but restaurants and bars registered a loss of 42,000 jobs.

The leisure and hospitality sectors had cited worker shortages in previous months, noted Zhao. But the Delta variant has caused Covid-19 infections to rise across the nation, leading to a return of mask mandates and health safety guidance — halting some people’s travel plans.

The retail sector also shed jobs in August.

Don’t be surprised if the Biden regime attempts to blame Trump.

The media might pivot, too.

But don’t let them fool you.

This isn’t Trump’s fault.

It’s not the pandemic’s fault either.

This failure can be entirely blamed on the terrible economic policies enacted by Joe Biden and the Democrat party.



 

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