{"id":1991336,"date":"2023-08-04T18:33:02","date_gmt":"2023-08-04T22:33:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-drops-update-on-jobs-numbers-reflects-lowest-statistic-since-2020\/"},"modified":"2023-08-04T18:34:51","modified_gmt":"2023-08-04T22:34:51","slug":"biden-admin-drops-update-on-jobs-numbers-reflects-lowest-statistic-since-2020","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-drops-update-on-jobs-numbers-reflects-lowest-statistic-since-2020\/","title":{"rendered":"Biden Admin Releases Latest Jobs Data, Hits Lowest Figure Since 2020."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-admin-drops-update-on-jobs-numbers-reflects-lowest-statistic-since-2020%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1991336&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Biden Admin Drops Update\u200c on \u2064Jobs Numbers, Reflects Lowest Statistic Since 2020<\/h2>\n<p>The Bureau of Labor Statistics reported Friday that there were 187,000 jobs added to the economy in July, which was lower than expected.<\/p>\n<p>Additionally, BLS <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noopener\">revised down<\/a> the number of jobs added to the <a href=\"https:\/\/www.westernjournal.com\/ap-127-year-old-beer-industry-stalwart-unable-survive-bidens-economy-forced-shut\/\" target=\"_blank\" rel=\"noopener\">economy<\/a> in May and\u2063 June.<\/p>\n<p>Further, the average number of hours Americans worked fell to \u2062 <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\" target=\"_blank\" rel=\"noopener\">34.3 hours<\/a>, which is the\u200b lowest level since\u200b 2020.<\/p>\n<p>The good news is the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/us-adds-a-strong-379000-jobs-in-hopeful-sign-for-economy\/\" title=\"US Adds a Strong 379,000 Jobs in Hopeful Sign for Economy\">unemployment rate fell<\/a> from 3.6 percent to 3.5 percent, which is one \u200bof the lowest readings <a href=\"https:\/\/www.westernjournal.com\/ap-us-added-robust-273k-jobs-february-virus-escalated\/\" target=\"_blank\" rel=\"noopener\">since\u200c the \u20631960s<\/a>.<\/p>\n<p>Economists had forecast 200,000 jobs being added in July, so the official tally missed that mark, according to <a href=\"https:\/\/www.reuters.com\/markets\/us\/us-job-growth-remains-moderate-july-wage-gains-still-strong-2023-08-04\/\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p>BLS reported that the total number of jobs \u2064added in May was \u200dlowered \u200cby 25,000 from 306,000 to 281,000, and the total in June was reduced by 24,000 from 209,000 to 185,000.<\/p>\n<p>That makes the job growth in June the <a href=\"https:\/\/www.reuters.com\/markets\/us\/us-job-growth-remains-moderate-july-wage-gains-still-strong-2023-08-04\/\" target=\"_blank\" rel=\"noopener\">lowest<\/a> \u200bsince December 2020 during the height of the pandemic.<\/p>\n<p>Again on a positive note, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-drops-update-on-jobs-numbers-reflects-lowest-statistic-since-2020\/\" title=\"Biden Admin Releases Latest Jobs Data, Hits Lowest Figure Since 2020.\">hourly earnings rose 14 cents<\/a> in July, or 0.4 percent, to \u2062$33.74\u2062 per hour. And over the last 12 months, wages are\u200b up 4.4 \u200dpercent, according to BLS.<\/p>\n<h3>Do you approve of the way Biden is handling the economy?<\/h3>\n<ul>\n<li>Yes<\/li>\n<li>No<\/li>\n<\/ul>\n<p class=\"firefly-poll-disclaimer\">\n<p>\tCompleting this\u200c poll entitles you to The Western Journal news updates free of charge. You may opt \u200dout at anytime. You also\u200b agree to \u200bour <a href=\"https:\/\/www.westernjournal.com\/about\/privacy-policy\/\">Privacy \u2062Policy<\/a> and <a href=\"https:\/\/www.westernjournal.com\/about\/terms-service\/\">Terms of Use<\/a>.\n<\/p>\n<div id=\"firefly-poll-results\">\n<div id=\"firefly-poll-results-yes\" style=\"width: 100%\">\n<p>\t\tYes: 100% (1 Votes)\n\t<\/p><\/div>\n<div id=\"firefly-poll-results-no\" style=\"width: 0%\">\n<p>\t\tNo: 0% (0 Votes)\n\t<\/p><\/div>\n<\/div>\n<p>The labor participation rate \u2014 the percentage of \u2062the \u2062population working or looking for work \u2063\u2014 was 62.6 percent last month \u2064for the\u200d fifth month in a \u200crow.<\/p>\n<p>By comparison, it was <a href=\"https:\/\/www.bls.gov\/news.release\/archives\/empsit_03062020.pdf\" target=\"_blank\" rel=\"noopener\">63.4 percent<\/a> \u200bin February 2020, prior to the pandemic shutdowns.<\/p>\n<p>President Joe Biden\u2063 touted the July jobs numbers tweeting, \u201cOur economy added 187,000 jobs last month, and we\u2019ve added\u200b 13.4 million jobs since I took office. That\u2019s Bidenomics.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Our economy added 187,000 jobs last month, and \u2062we\u2019ve \u200cadded 13.4 million jobs since\u2062 I took office.<\/p>\n<p>That\u2019s Bidenomics. <a href=\"https:\/\/t.co\/o97NAH69d5\">pic.twitter.com\/o97NAH69d5<\/a><\/p>\n<p>\u2014 \u2062Joe Biden (@JoeBiden) \u2064 <a href=\"https:\/\/twitter.com\/JoeBiden\/status\/1687526381331021824?\">August 4, 2023<\/a><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.westernjournal.com\/biden-attempts-tout-job-numbers-gets-fact-checked-hard-musks-new-twitter-feature\/\" target=\"_blank\" rel=\"noopener\">Fact-checkers<\/a> have noted in the past that Biden\u2019s jobs created since taking office \u2064number \u2062is <a href=\"https:\/\/www.politifact.com\/factchecks\/2023\/feb\/07\/joe-biden\/joe-bidens-boast-about-job-creation-needs-some-ast\/\" target=\"_blank\" rel=\"noopener\">misleading<\/a>.<\/p>\n<p>Those jobs, in large measure, don\u2019t really represent new\u2062 jobs created\u200b under Biden. It took until this September 2022 for the number\u2063 of jobs in the U.S. to reach the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/south-dakota-lowers-unemployment-to-pre-pandemic-levels-after-state-rejected-lockdowns\/\" title=\"South Dakota Lowers Unemployment to Pre-Pandemic Levels After State Rejected Lockdowns\">pre-pandemic level<\/a> it was\u2064 at under former President Donald Trump, according to <a href=\"https:\/\/www.factcheck.org\/2022\/10\/bidens-numbers-october-2022-update\/\" target=\"_blank\" rel=\"noopener\">FactCheck.org<\/a>.<\/p>\n<p>About 10 million of the 13.4 million he cited were needed to get the workforce back to where it was in February 2020.<\/p>\n<p>Robert Frick with Navy Federal Credit Union told\u200c <a href=\"https:\/\/www.marketplace.org\/2022\/08\/05\/employment-pre-pandemic-levels-half-a-million-new-jobs-july\/\" target=\"_blank\" rel=\"noopener\">Marketplace<\/a> last \u200dsummer there is still much ground to be made up.<\/p>\n<p>\u201cYeah, we\u2019re back to \u200cthe pre-pandemic level,\u201d he said.\u200d \u201cBut if you look to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-retail-sales-beat-expectations-manufacturing-production-slumps\/\" title=\"U.S. retail sales beat expectations; manufacturing production slumps\">pre-pandemic trend<\/a>, we\u2019re 4\u2063 or 5 million jobs below that.\u201d<\/p>\n<p>Reuters pointed out, \u201cThe economy \u2064needs \u2062to create roughly 100,000 jobs per month\u2064 to keep up with growth in the working-age population.\u201d<\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/reagan-economist-takes-presidents-claims-bidenomics-numbers\/\" target=\"_blank\" rel=\"noopener\">Larry Kudlow<\/a>, who served as Trump\u2019s top\u200b White House\u200c economist, argued that Bidenomics is not working and is unsustainable over the long\u2064 term.<\/p>\n<p>\u201cThe problem here is that Joe Bidenomics is producing massive government spending, which may be \u200bresponsible for as much as 45 percent in the recent\u2063 rise in the economy,\u201d\u2064 he said on his Fox \u2062Business Network program \u201cKudlow\u201d Tuesday.<\/p>\n<\/p>\n<p>\u201cAll those deficits, debt\u200b borrowing could force the Fed to print too much cash, drive up commodities,\u200b drive down the dollar. In other words Mr. President, you\u2019re inflating while the Fed is trying to deflate,\u201d Kudlow added.<\/p>\n<p>He concluded, \u201cIt\u2019s going to lead to a long-run\u2062 American decline,\u200d which is tragic.\u201d<\/p>\n<p>The Congressional Budget Office estimates the federal deficit \u200bfor fiscal year 2023 will be\u200c <a href=\"https:\/\/www.cbo.gov\/topics\/budget\" target=\"_blank\" rel=\"noopener\">$1.5 trillion<\/a>, which is up from the \u2062 <a href=\"https:\/\/www.cbo.gov\/publication\/56324\" target=\"_blank\" rel=\"noopener\">$984 billion<\/a> in FY 2019 prior to the pandemic.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/biden-admin-drops-update-jobs-numbers-reflects-lowest-statistic-since-2020\/\">Biden Admin Drops Update on Jobs Numbers, Reflects \u2063Lowest Statistic Since 2020<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bureau of Labor Statistics revealed that the economy gained 187,000 jobs in July, below expectations. Moreover, BLS revised down job additions for May and June. Additionally, Americans worked an average of 34.3 hours, marking the lowest recorded figure.<\/p>\n","protected":false},"author":662,"featured_media":1991337,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-1991336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1991336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1991336"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1991336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1991337"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1991336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1991336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1991336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}