While the delusional Biden administration would have you believe that everything is just “fine and dandy” – the reality of Biden’s impact on the economy tells an entirely different story.
A labor market research group reported that the United States lost hundreds of thousands of jobs in the month of January – signaling that any steam left over from President Trump’s economic policies may be coming to a grinding halt as Biden leaves his mark on the American economy.
The ADP Research Institute projects in a report released Wednesday that the U.S. economy lost just over 300,000 jobs in January. While ADP Chief Economist Nela Richardson blamed the mild Omicron variant for the shift in employment, it may be a bit more serious than that.
“The labor market recovery took a step back at the start of 2022 due to the effect of the Omicron variant and its significant, though likely temporary, impact to job growth,” Richardson said in a statement. “The majority of industry sectors experienced job loss, marking the most recent decline since December 2020. Leisure and hospitality saw the largest setback after substantial gains in fourth quarter 2021, while small businesses were hit hardest by losses, erasing most of the job gains made in December 2021.”
The Biden administration is also seemingly preparing for a poor January jobs report, scheduled to come out on Friday. Administration officials have already been spread out all over media networks to downplay the significance of the jobs report – using the Omicron variant as a cover for Biden’s failures.
National Economic Council director Brian Deese appeared on MSNBC on Tuesday to warn of a disappointing report and preempt concerns that the economic recovery may be stalling.
The Washington Examiner reported, “Brian Deese, the director of the National Economic Council, tried to preempt the news during an appearance on MSNBC. He told viewers that Friday’s numbers might be “confusing” because the jobs report can count people who are out sick and not collecting pay as unemployed when in reality, they still have jobs.”
The report continued, ““We expect that that will have an impact on the numbers,” Deese said Tuesday. “We never put too much weight on any individual month; this will particularly be true in this month because of the likely effect of the short-term absences from omicron.””
While the administration loves to blame their failures on the rise of the Omicron variant, they tend to shy away from discussing the more pressing matter of inflation which has skyrocketed out of control and seems to be here to stay along with its detrimental impact on the economy.
In the month of December, consumer prices rose at the fastest annual rate since 1982.
According to the Daily Wire, the Labor Department revealed data showing that in December, consumer prices rose by 7% over the previous year, the fastest increase in roughly 40 years. The Labor Department’s Bureau of Labor Statistics showed the consumer price index increased 7%, the fastest increase since 1982.
“The latest Consumer Price Index data, released Wednesday by the Bureau of Labor Statistics, marks the third consecutive month in which the index, a measure of what consumers pay for goods and services, rose by more than 6 percent,” NBC News reported.
Author: Blake Courting
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