{"id":713274,"date":"2021-09-03T11:21:16","date_gmt":"2021-09-03T15:21:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=713274"},"modified":"2021-09-03T11:21:23","modified_gmt":"2021-09-03T15:21:23","slug":"a-big-big-miss-august-jobs-report-records-slowest-growth-since-biden-took-office","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-big-big-miss-august-jobs-report-records-slowest-growth-since-biden-took-office\/","title":{"rendered":"\u2018A Big, Big Miss\u2019: August Jobs Report Records Slowest Growth Since Biden Took Office"},"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\">28<\/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%2Fa-big-big-miss-august-jobs-report-records-slowest-growth-since-biden-took-office%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=713274&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\/09\/Joe-Biden-3.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>The U.S. economy floundered last month as job growth fell sharply and missed economists\u2019 expectations by nearly half-a-million new jobs.<\/p>\n<p>The economy added 235,000 jobs in August, far below economists\u2019 predictions of 720,000 and a sharp drop in job growth from the previous two months when the economy added 962,000 jobs in June and another 1.1 million in July, according to Department of Labor <a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">data<\/a> released Friday.<\/p>\n<p>\u201cThat is what one would call a big, big miss,\u201d CNN White House correspondent Phil Mattingly noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"11.785714285714\">\n<p lang=\"en\" dir=\"ltr\">August Jobs Report: <br \/>+ 235,000 (economist forecasts: 725,000)<\/p>\n<p>That is what one would call a big, big miss. <\/p>\n<p>Unemployment rate: 5.2%<\/p>\n<p>\u2014 Phil Mattingly (@Phil_Mattingly) <a href=\"https:\/\/twitter.com\/Phil_Mattingly\/status\/1433769713365098502?ref_src=twsrc%5Etfw\">September 3, 2021<\/a><\/p>\n<\/blockquote>\n<p>The unemployment rate dropped from 5.4% to 5.2%, in line with economists\u2019 expectations. The jobs numbers are the worst posted since Biden took office in January, according to <a href=\"https:\/\/www.cnbc.com\/2021\/09\/03\/jobs-report-august-2021.html\">CNBC<\/a>. While most sectors posted limited gains, growth in the leisure and hospitality sector stalled and remains far below its pre-pandemic employment level.<\/p>\n<p>\u201cIn August, employment in leisure and hospitality was unchanged, after increasing by an average of 350,000 per month over the prior 6 months. In August, a job gain in arts, entertainment, and recreation (+36,000) was more than offset by a loss in food services and drinking places (-42,000). Employment in leisure and hospitality is down by 1.7 million, or 10.0 percent, since February 2020,\u201d the Department of Labor reported.<\/p>\n<p>\u201cThe labor market recovery hit the brakes this month with a dramatic showdown in all industries,\u201d Daniel Zhao, senior economist at jobs site Glassdoor, told CNBC. He went on to blame the rise of the Delta variant of COVID-19 for the stunted labor market performance.<\/p>\n<p>\u201cUltimately, the Delta variant wave is a harsh reminder that the pandemic is still in the driver\u2019s seat, and it controls our economic future,\u201d he said.<\/p>\n<p>Ben Shapiro, editor emeritus for The Daily Wire, said that blaming the Delta variant for the slow economic growth is mistaken given the widespread availability of effective vaccines against COVID-19. Shapiro said that the fear over the Delta variant in largely a product of fear mongering in the media and by Democratic politicians.<\/p>\n<p>\u201cThe problem is not the delta variant. The problem is the media, the Biden administration, and blue state politicians telling people to freak the hell out about the delta variant. This has resulted in the vaccinated freaking out and the unvaccinated acting as they always did,\u201d Shapiro <a href=\"https:\/\/twitter.com\/benshapiro\/status\/1433776160517799937\">said<\/a>.<\/p>\n<p>\u201cAmericans divide into two groups: the worried and the unworried. Nearly the entirety of the worried are vaccinated, unjustifiably; most of the unworried are unvaccinated. It is the worried vaccinated who are calling for lockdowns and mandates and tanking the economy,\u201d he continued. \u201cThat\u2019s a big reason why 9 of the 10 best states for unemployment are red, and ~17 of the top 20. And it\u2019s why all nine+DC of the worst are blue.\u201d<\/p>\n<p>The disappointing jobs report comes as record inflation is <a href=\"https:\/\/www.dailywire.com\/news\/inflation-for-businesses-reaches-7-8-the-highest-level-ever-recorded\">hitting<\/a> the U.S. economy. The Department of Labor\u2019s Producer Price Index recorded a year-over-year rise of 7.8% in July, the highest level ever recorded.<\/p>\n<p><strong>Related: <a href=\"https:\/\/www.dailywire.com\/news\/us-economy-added-only-half-as-many-jobs-as-expected-in-july\">U.S. Economy Added Only Half As Many Jobs As Expected In July<\/a><\/strong><\/p>\n<p><em>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 <\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. economy floundered last month as job growth fell sharply and missed economists\u2019 expectations by nearly half-a-million new jobs.The economy added 235,000 jobs in August, far below economists\u2019 predictions &#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-713274","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\/713274","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=713274"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/713274\/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=713274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=713274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=713274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}