The Labor Department’s newly released jobs report for July appeared to be good news for the economy — at first glance.
A dig below the surface, however, reveals a different picture: Americans, strapped for cash by inflation, taking on second jobs as families have less money to spend.
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Republican leaders slammed President Joe Biden after December’s jobs report released Friday reported numbers well below economists’ projections, highlighting the report as another example of how the president mishandled the post-pandemic recovery.
The U.S. economy added only 199,000 jobs in December while unemployment dipped to 3.9%, the U.S. Bureau of Labor Statistics (BLS) announced Friday. Economists surveyed by The Wall Street Journal projected that the economy would add 422,000 jobs in December and that unemployment to fall to 4.1%.
“Our economy should be soaring right now, but the policies of this administration continue to stifle growth and hold back American businesses and workers,” House Minority Leader Kevin McCarthy said in a statement.
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The U.S. economy added 210,000 jobs in November, marking nearly the lowest number of jobs created in a month since President Joe Biden took office in January.
November’s jobs report was well below economists’ estimate of 573,000, according to CNBC. Additionally, unemployment fell to 4.2% from October’s 4.6% figure, according to the Bureau of Labor Statistics (BLS).
The U.S. economy, still recovering from the COVID-19 pandemic but now subject to uncertainty related to the Omicron coronavirus variant, appeared to slow in momentum in November, The Wall Street Journal reported.
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President Joe Biden repeatedly mischaracterized the job growth that has occurred since he took office, saying it is a product of his administration’s economic agenda, multiple media fact checkers have reported.
While the Biden administration has overseen the economic recovery during a period of large gains in the labor market, the White House hasn’t acknowledged that states reopening and ending pandemic-related business restrictions is likely the main catalyst for such growth. The president has also credited without evidence the $1.9 trillion American Rescue Plan, which he signed into law in March, for driving job growth.
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The U.S. economy reported an increase of 943,000 jobs in July and the unemployment rate fell to 5.4%, according to Department of Labor data released Friday.
Total non-farm payroll employment increased by 850,000 in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons decreased to 8.7 million. Economists projected 845,000 Americans would be added to payrolls prior to Friday’s report, The Wall Street Journal reported.
“The jobs recovery is continuing, but it’s different in character to any we’ve seen before,” payroll software firm ADP economist Nela Richardson told the WSJ. “I had been looking at September as a point when we could gain momentum—with schools back in session and vaccines widely available. But with the delta variant, we need to rethink that.”
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Another 275,000 jobs were added to the U.S. economy in the month of September, according to the Bureau of Labor Statistics’ (BLS) household survey, and 661,000 in the establishment survey, adding to the miraculous economic recovery that has taken place since COVID-19 lockdowns this spring as now states and businesses continue reopening at a rapid clip.
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The U.S. economy added 661,000 jobs in September, while unemployment fell to 7.9%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 661,000 in September, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1 million to 12.6 million.
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The U.S. economy added another 3.7 million jobs in the month of August, according to the Bureau of Labor Statistics’ household survey of Americans reporting they have jobs, bringing the total up to 13.8 million jobs that have been recovered since labor markets bottomed in April, something almost nobody but President Donald Trump was predicting.
At the worst of the coronavirus recession, as many as 25 million jobs were lost by April, and now more than half of those jobs have been regained, as a V-shaped recovery has clearly formed.
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The U.S. economy added 1.8 million jobs in July, while unemployment fell to 10.2%, according to Department of Labor data released Friday.
Total non-farm payroll employment rose by 1.8 million in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1.4 million to 16.3 million.
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The U.S. economy produced between 1.35 million and 1.8 million jobs the month of July, bringing the total number of jobs created since April when labor markets bottomed with the federal and state governments in lockdown to combat the Chinese coronavirus to between 9.3 million and 10 million.
Further speeding the recovery along are the number of COVID-19 cases are beginning to decline nationally after brief spikes in Texas, California, Florida and Arizona as states were reopening. Now the cases have stabilized in those states, and the Institute for Health Metrics and Evaluation is projecting they will remain stable until mid-to-late September when the cold and flu season gets going again.
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The U.S. added 4.8 million jobs in June, while the unemployment declined to 11.1%, according to Department of Labor data released Thursday.
Total non-farm payroll employment rose by 4.8 million in June, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 3.2 million to 17.8 million. These numbers mark the second month of both increasing jobs and dropping unemployment since the country lost a record 20.5 million jobs due to the coronavirus pandemic closures.
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Stocks are rushing higher in morning trading Friday after a much better-than-expected report on the U.S. job market gave Wall Street’s recent rally another shot of adrenaline.
The S&P 500 was up 2.2% after the government said that U.S. employers added 2.5 million workers to their payrolls last month. Economists were expecting them instead to slash another 8 million jobs amid the recession caused by the coronavirus and the shutdowns put in place to stem it.
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The U.S. economy lost 701,000 jobs in March, while the unemployment rate rose to 4.4%, according to the Department of Labor data released Friday.
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The U.S. economy added 273,000 jobs in February, while the unemployment rate was almost unchanged at 3.5%, according to Department of Labor data released Friday.
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President Donald Trump’s campaign celebrated the United States’ booming economy while bashing the chaos of the Iowa caucuses.
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The U.S. economy added 145,000 jobs in December, while the unemployment rate remained at 3.5%, according to Department of Labor data released Friday.
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The U.S. economy added 266,000 jobs in November, while the unemployment rate dropped to 3.5%, according to Department of Labor data released Friday.
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