Friday, May 07, 2021

Bidenomics: Jobless rate up, only 266K jobs added

Three months of Joe Biden and his surrogates trashing big business are taking their toll. And the extension of jobless rates by the president encourages people to stay home. 

And soon inflation will be roaring back.

From Fox News:

An expected U.S. hiring boom crashed into a wall in April, with employers adding a measly 266,000 new jobs – sharply missing Wall Street's expectations – amid a growing shortage of available workers.
The unemployment rate unexpectedly rose to 6.1% — while it's still well below the April 2020 peak of 14.7%, it's about twice the pre-crisis level, the Labor Department said in its monthly payroll report, released Friday morning.
Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs. The figure marks a significant drop from March's downwardly revised number of 770,000 and February's upwardly revised 536,000.

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