Written by Sasha Reva<\/p>\n
Remember when President Joe Biden promised labor market recovery, but apparently it slowed again in September. It is now weaker-than-expected, with about 194,000 new jobs created. We can see that school reopenings and the end of the jobless benefits haven’t brought enough Americans back into the labor force. While unemployment fell from 5.2% to 4.8%, much of that can be attributed to 183,000 people leaving the labor force.<\/p>\n
\u201cRemember, today’s report is based on a survey that was taken during the week of September the 13th, not today — September 13, when COVID cases were averaging more than 150,000 per day,” Biden said. “Since then, we’ve seen the daily cases fall by more than one-third and they’re continuing to trend down. We’re continuing to make progress.\u201d
\nWhile Biden and his staff may see this as a victory, a deeper dive into the statistics show otherwise. 83,000 African American workers left the workforce. Labor participation rate, which shows how many people are working and searching for work, has stagnated at 61.6% in September which is a .1% drop from August when it was 61.7%.<\/p>\n
It seems to be a recurring trend for the Biden administration that they always miss the mark on these numbers. While Biden and his staff may try to put as much positive spin on these numbers as possible, almost everyone realizes that Biden has failed make Americans optimistic about the job market fully recovering.<\/p>\n
Photo Cred: Chip Somodevilla\/Getty Images<\/p>\n","protected":false},"excerpt":{"rendered":"
Written by Sasha Reva Remember when President Joe Biden promised labor market recovery, but apparently it slowed again in September. It is now weaker-than-expected, with about 194,000 new jobs created. We can see that school reopenings and the end of the jobless benefits haven’t brought enough Americans back into the labor force. While unemployment fell…<\/p>\n","protected":false},"author":3,"featured_media":7247,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-7246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"\n