{"id":615908,"date":"2021-08-06T13:37:03","date_gmt":"2021-08-06T17:37:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=615908"},"modified":"2021-08-06T13:37:05","modified_gmt":"2021-08-06T17:37:05","slug":"jobs-report-better-than-expected-still-falls-short-of-biden-promises-on-employment","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jobs-report-better-than-expected-still-falls-short-of-biden-promises-on-employment\/","title":{"rendered":"Jobs Report Better Than Expected, Still Falls Short Of Biden Promises On Employment"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/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%2Fjobs-report-better-than-expected-still-falls-short-of-biden-promises-on-employment%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=615908&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--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/Joe-Biden-3.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p><span>The American economy added more jobs than expected last month \u2014 yet continued to fall short of the Biden administration\u2019s promises for economic recovery.&nbsp;<\/span><\/p>\n<p><span>As reported by the <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\"><span>Bureau of Labor Statistics<\/span><\/a><span>, total nonfarm payroll employment rose by 943,000 in July; the unemployment rate, therefore, dropped to 5.4%. Economists polled by Dow Jones <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/08\/06\/jobs-report-july-.html\"><span>expected<\/span><\/a><span> 845,000 new jobs and 5.7% unemployment, with particularly strong gains occurring in sectors such as leisure and hospitality, local government education, and professional services.<\/span><\/p>\n<p>The Biden administration had hoped for 2.4 million new jobs in the second quarter of 2021, based on a Moody\u2019s Analytics report the White House repeatedly cited when selling its $1.5 trillion \u201cjobs plan\u201d earlier this year. As Republicans on the <a href=\"https:\/\/gop-waysandmeans.house.gov\/even-with-june-report-biden-falls-nearly-700k-jobs-short-of-his-own-jobs-promises\/\">House Ways and Means Committee<\/a> detail, the President entered the third quarter with nearly 700,000 fewer jobs than Moody\u2019s predicted, even when the June report <span>\u2014<\/span> the final report of the second quarter <span>\u2014<\/span> is added into the total.<\/p>\n<p>Although July\u2019s report met expectations, the White House still failed to close the gap.<\/p>\n<p><span>The labor force participation rate \u2014 the proportion of working-age adults who hold jobs \u2014 remained virtually unchanged. <\/span><span>Meanwhile, average hourly earnings for all employees on private nonfarm payrolls between June and July rose by $0.11 to $30.54 \u2014 a slightly slower rate of increase than the <\/span><a href=\"https:\/\/www.bls.gov\/news.release\/empsit.t19.htm\"><span>change<\/span><\/a><span> between May and June. The Bureau of Labor Statistics noted that the increase is due to \u201cthe rising demand for labor\u201d associated with the recovery from COVID-19 and the lockdown-induced recession.<\/span><\/p>\n<p><span>The July jobs report matches <\/span><a href=\"https:\/\/www.dailywire.com\/news\/will-biden-close-his-jobs-deficit-rep-kevin-brady-on-what-to-look-for-in-fridays-jobs-report\"><span>predictions<\/span><\/a><span> offered by Rep. Kevin Brady (R-TX) \u2014 the Ranking Member of the <\/span><span>House Ways and Means Committee<\/span><span> \u2014 to The Daily Wire on Thursday.<\/span><\/p>\n<p><span>Brady told Americans to watch for whether President Biden would successfully close the deficit in his administration\u2019s promised job growth from the second quarter of 2021. According to Brady\u2019s Friday morning press release, the economy is still 298,000 positions short of the President\u2019s overall forecast.<\/span><\/p>\n<p><span>On Friday, Brady also pointed out that the stronger-than-expected job growth is partially attributable to \u201cRepublican governors removing the Biden work barrier that pays the jobless more to stay home than to work\u201d \u2014 a reference to enhanced federal unemployment insurance approved by the American Rescue Plan.<\/span><\/p>\n<p><span>Likewise, Brady noted on Thursday that labor force participation is \u201cstuck at a very low rate\u201d and \u201chasn\u2019t budged in six months under President Biden.\u201d The July report appears to follow that trend \u2014 meaning that Americans will \u201ccontinue to see those higher prices and those slower deliveries in a major way.\u201d <\/span><\/p>\n<p><span>Indeed, Brady said on Friday that the metric is \u201ca red flag for tepid growth ahead.\u201d<\/span><\/p>\n<p><span>The slim deceleration in average hourly earnings confirms Brady\u2019s prediction that rising price levels could \u201ccontinue to outstrip wages for the seventh consecutive month.\u201d Brady commented Friday that \u201cit appears rising prices will continue to beat wage growth for a seventh consecutive month\u201d \u2014 a reality that will be confirmed once the July inflation report is released later in August.<\/span><\/p>\n<p><span>As Brady previously explained to The Daily Wire, \u201cthe biggest mistake Congress could make\u201d at this point in the economic rebound \u201cwould be to double down on government spending.\u201d<\/span><\/p>\n<p><span>\u201cA double down on endless government checks and the creation of new entitlements will increase dependency on government and discourage people from work and self-sufficiency,\u201d he said. \u201cThose are the biggest worries I think we have right now.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The American economy added more jobs than expected last month \u2014 yet continued to fall short of the Biden administration\u2019s promises for economic recovery.\u00a0As reported by the Bureau of Labor &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-615908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/615908","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=615908"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/615908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=615908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=615908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=615908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}