Publisher's Note: This older, but yet to be published post is finally being presented now as an archivable history of the current events of these days that will become the real history of tomorrow.
This post appears here courtesy of the The Daily Wire
. The author of this post is Hank Berrien
Spinning the news on Friday after November's jobs report revealed growth in new jobs had not even reached 50% of what financial experts had predicted, President Biden boasted, "Our jobs recovery is going very strong."
The Daily Wire reported on Friday:
The November jobs report that came out on Friday showed poor numbers for the U.S. economy, with growth in new jobs not even reaching 50% of what financial experts had predicted. Making the news worse, the disastrous jobs numbers arrived before the U.S. government and the mainstream media triggered a panic over the new Omicron variant of the novel coronavirus.
"Nonfarm payrolls increased by just 210,000 for the month," CNBC reported, noting that the "Dow Jones estimate was for 573,000 new jobs."
Biden told a press conference:
This year, we can reflect on an extraordinary bit of progress. Our economy is markedly stronger than it was a year ago, and today, the incredible news that our unemployment rate has fallen to 4.2%. At this point in the year, we're looking at the sharpest one-year decline in unemployment ever. Simply put, America is back to work and our jobs recovery is going very strong. Today's historic drop in unemployment rate includes dramatic improvements for workers who have often seen higher wages and higher levels of unemployment. Excuse me, higher levels of unemployment - they are seeing higher wages. ....
But that's not just jobs that are up; wages are up. ... Americans, on average, have more in their pockets today than they did each month since I've been in office, than they did last year, after accounting for inflation. Let me repeat that: Even after accounting for rising prices, the typical American family has more money in their pockets than they did last year.
"We've also learned today, that in November, 235,000 jobs were created in the private sector,"
he continued. "And when they went back and recalibrated, they found, the last two months, they found that job growth over the prior two months, September and October, actually created 82,000 more jobs than had previously been reported, which means that we've averaged nearly 400,000 new jobs a month over the last three months. A solid pace. All told, in the first ten months of my administration, the economy's created six million jobs, a record for a new president."
Biden simply ignored the complete record of jobs during his tenure.
The Daily Wire reported in mid-November:
The number of Americans who quit their jobs reached record levels in September at 4.4 million, according to data from the federal government. According to a report by the U.S. Bureau of Labor Statistics released on Friday, the number of job openings didn't shift much and was at 10.4 million on the final business day of the month of September. However, the rate of people quitting rose.
The report noted:
Hires and total separations were little changed at 6.5 million and 6.2 million, respectively. Within separations, the quits level and rate increased to a series high of 4.4 million and 3.0 percent, respectively. The layoffs and discharges rate was unchanged at 0.9 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by four geographic regions, and by establishment size class.
Statistics for the months before that were reported by The Daily Wire in mid-October:
The American economy saw 20 million job resignations in the spring and summer.
According to a Department of Labor report released on Tuesday, a record 4.3 million workers quit their jobs in August - the highest level of resignations in over 20 years. However, a summary of federal data from The Wall Street Journal reveals that August's data continues an upward trend in employee exits: "U.S. workers left their jobs nearly 20 million times between April and August this year, according to the latest federal data, a number more than 60% higher than the resignations handed in during the same period last year, and 12% above the spring and summer of 2019 when the job market was the hottest it had been in almost 50 years."
Between April and August, the economy created a net 2 million new jobs; however, overall employment is still 3% lower than its pre-COVID level.