The October jobs report that came out on Friday isn’t as good as Joe Biden claims it is. This from thegatewaypundit.com.
Biden on Friday falsely claimed his economic recovery is “faster” and “stronger” than “anyone could have predicted.”
He also absurdly claimed “wages are up.”
Watch Fox Business break down Friday’s report:
Some good news is causing the DOW to rise, however, the labor participation rate has not budged since last year.
Joe Biden is not creating any new jobs—the Labor Participation rate has not budged.
For the 14th straight month, more than 100 million people are not in the labor force.
CNS News reported:
The Labor Department’s Bureau of Labor Statistics announced on Friday that 100,450,000 people in this country were not in the labor force in October, up 38,000 from the 100,412,000 in September.
This is the 14th straight month that this “not in the labor force” number has remained above 100,000,000.
Among those not in the labor force in October, 1.3 million persons said they were prevented from looking for work due to the pandemic. This measure is down from 1.6 million in September.
The number of people not in the labor force reached a record high of 103,418,000 in April 2020, as the pandemic took hold; and the highest it’s been under President Joe Biden is 100,708,000 this past February.
I’m not an economist but I know enough to understand that a rising market combined with an extremely high “not in the labor force” number cannot be good.
In fact, there’s a term for just such a situation: Stagflation. “A persistent high inflation combined with high unemployment and stagnant demand in the country’s economy.”
In other words: Slow growth and high unemployment. Note: Unemployment and inflation rates typically move in opposite directions.
Bottom Line: Joe must go soonest. The Regime knows what it is doing, which is not good for the country or the American people.
President Trump you are dearly missed sir.
