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1 Out of 5 ‘New Jobs’ in Biden’s Booming Economy are Government Jobs


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Front Page Magazine

10% of Biden’s “job growth” came from providing social welfare to illegal alien invaders.

 

The Biden economy is booming. And if you don’t believe that, just ask the media which responded to the latest job reports with headlines worthy of a North Korean newspaper editor being asked to describe Kim Jong-Un’s birthday party while a gun is pointed at his head.

“Another shockingly good jobs report shows America’s economy is booming,” CNN cheered. “New report points to blockbuster U.S. job growth as 2024 begins,” MSNBC claimed. And Politico found faith in a semi-senile president with its headline, “Biden’s ‘holy grail’ economy.”

The media all agreed that this “booming economy” could turn around the presidential election. But there was a problem.. Why, the media wondered, didn’t the public believe in Bidenomics?

“Why isn’t the growing economy helping public perception of Biden?” CNN asked. “It’s Crazy That the Booming Economy Is Hurting Biden,” New York Magazine complained. “Why Americans Don’t Give Biden Credit for Strong Economy,” the Voice of America, which is funded by taxpayers and shouldn’t be pushing political propaganda at home, pontificated.

 

Why doesn’t the public believe in this “booming economy” where, as Axios, in a fit of feverish enthusiasm, proclaimed, “the labor market is hot, hot, hot”? Because it’s not real.

The Wall Street Journal pointed out that the unemployment rate is now actually higher than it was a year ago and the labor force participation rate is only up 0.1%. That’s not what a booming economy or labor market looks like. But if there isn’t a booming labor market, where are all those jobs actually coming from? The media could tell you if it had any ethics, integrity or the ability to actually read the reports it’s writing about instead of typing a prompt into ChatGPT.

The Bureau of Labor Statistics jobs report is revealing. And what it reveals is that the “booming economy” is the Biden administration’s attempt to create a perpetual motion economic machine.:snip:

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Layoffs surged 136% in January to second-highest level on record

The pace of job cuts by U.S. employers accelerated at the start of 2024, a sign the labor market is starting to deteriorate in the face of ongoing inflation and high interest rates.

 

That is according to a new report published by Challenger, Gray & Christmas, which found that companies planned 82,307 job cuts in January, a substantial 136% increase from the previous month. However, that is down about 20% from the same time one year ago. It marked the second-highest layoff total for the month of January in data going back to 2009.

"Waves of layoff announcements hit U.S.-based companies in January after a quiet fourth quarter," said Andy Challenger, senior vice president of Challenger, Gray & Christmas. The cuts were "driven by broader economic trends and a strategic shift towards increased automation and AI adoption in various sectors, though in most cases, companies point to cost-cutting as the main driver for layoffs."

Financial companies bore the brunt of the job losses in January, with the industry shedding 23,238 employees. That is the highest monthly layoff total for the financial sector since September 2018, when it announced 27,343 job cuts.:snip:

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