Skip to comments.Weak Jobs Report Raises Doubts About Biden’s Economic Policies
Posted on 05/09/2021 6:40:52 PM PDT by E. Pluribus Unum
WASHINGTON—U.S. jobs growth for April was far lower than what the market had predicted, adding to worries that excessive stimulus payments could have undesirable side effects in the long term, making the road to recovery rocky.
The April jobs report was the biggest miss on record. According to the Bureau of Labor Statistics, the U.S. economy added 266,000 jobs last month versus an estimate of 1 million. The unemployment rate rose to 6.1 percent from 6.0 percent in March.
Some economists believe that the path to full employment could be much longer than expected.
“Going forward, U.S. job gains will be somewhat harder as they will depend on organic growth in demand and not just state and local governments easing of business restrictions,” Scott Anderson, chief economist at Bank of the West in San Francisco, wrote in a report.
The economy is still 8.2 million jobs below pre-COVID levels.
Job gains for March were also revised down to 770,000 from a blockbuster 916,000 additions. The unemployment rate for African Americans rose to 9.7 percent in April, making them the only racial group to experience worsening metrics, according to Economic Policy Institute. Meanwhile, the jobless rate for white workers fell to 5.3 percent.
While President Joe Biden inherited a strong economic recovery, his policies are hurting companies, especially Main Street businesses, critics say.
Business surveys show that the majority of small businesses are facing difficulties in finding workers. According to a monthly survey by the National Federation of Independent Business, a record level of small-business owners (44 percent) in April reported that they couldn’t fill job openings.
(Excerpt) Read more at theepochtimes.com ...
Doubts? Oh, I don’t think I have doubts.
Biden has no policies.
President Obama knows exactly what he’s having his remote-controlled robot do.
‘Doubts’ is a very positive term for a very negative situation. The writer was hopeful. Or generous. Or just needed to make his quota of words.
We needed a ‘jobs report’ to tell us this?
Biden killed 11,000 jobs on his first day in the White House.
I guess all of those people with high - and highly specialized! - skills can just learn to code. Or something...
Captain Obvious to the rescue.
Weak jobs report ain’t the only thing, Jack.
Doubts? Oh, c’mon now! We all knew they’d suck.
We went from a CEO with a career in high finance to a corrupt idiot who thinks a balance sheet is something an acrobat lands on. Who couldn’t forsee this?
Very weak title. Words matter. Epoch Times needs to step it up.
They are trusting that their readers are intelligent enough to come to their own conclusions.
Would you leave this clown alone with your female grand babies?
This drooling fool is in charge?
Biden’s ongoing effort to do everything different from Trump!
Obama has nothing to do with this. He's a tool, just like Biden is. The only difference is, Obama still has his mental faculties, while Biden doesn't.
Why would anyone work when they can get $600+/wk for smoking weed, playing Call of Duty and trading Dogecoin?
The jobs are out there to be had. People are not working. Drive down the road in the community I live in, and every business has help wanted sign.
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