Vice President Kamala Harris’ campaign has blamed former President Trump for recent negative events. Employment Report — Nearly one term has passed since he left office.
“As president, Donald Trump has failed the American people and damaged our economy. Millions of jobsand bringing the economy to the brink of a recession,” Harris campaign spokesman James Singer said in a statement.
“Now Trump is promising even greater damage with his Project 2025 plan that will devastate the middle class and raise taxes on working families while stripping away health care, raising prescription drug costs and cutting Social Security and Medicare — all while making his billionaire donors richer.”
“We’ve made great progress, but Vice President Harris recognizes there is more work to be done to ease the burden on families,” Singer added.
U.S. payrolls slow to 114,000 in July, unemployment unexpectedly rises
US Vice President Kamala Harris speaks at a campaign event at Westover High School in Fayetteville, North Carolina, on July 18, 2024. (Alison Joyce/AFP via Getty Images)
Singer said Harris would “make growing the middle class a clear goal of her presidency, take on greedy corporations that overcharge consumers, ban hidden fees and put a cap on unfair rent hikes and the cost of medicines.”
The Harris campaign’s comments came as U.S. job growth slowed sharply in July and the unemployment rate unexpectedly rose to its highest level in nearly three years.
The Labor Department said on Friday that employers 114,000 jobs The number of people employed in July rose by 15,000 year-on-year, short of the 175,000 increase expected by economists at LSEG, and the unemployment rate rose to 4.3%, contrary to expectations that it would remain stable at 4.1%.
U.S. President Joe Biden (left) and Vice President Kamala Harris stand on the Truman Balcony at the White House, Thursday, July 4, 2024, in Washington, DC. (Tierney L. Cross)
The unemployment rate reached its highest level since October 2021.
Friday’s report added more evidence that the economy is weakening amid persistent inflation and high interest rates. The report rekindled fears of a recession and sent stock futures tumbling. Impending recessionDow futures fell more than 500 points.
Weaker than expected data: Federal Reserve The Fed has waited too long to cut interest rates. Policymakers ended a two-day meeting on Wednesday by deciding to keep rates on hold at their highest level in 23 years but signaled they could start easing policy as early as September.
One of those five Democrats could be Harris’ running mate.
Health care continues to lead job creation, adding 55,000 new workers in July. Other sectors that saw notable growth included construction (25,000), government (17,000), and transportation and warehousing (14,000).
U.S. Vice President Kamala Harris speaks in the Rose Garden of the White House in Washington, DC, on July 26, 2021, as U.S. President Joe Biden looks on. (Anna Moneymaker/Getty Images)
But there were also notable job losses last month, with information-related jobs falling by 20,000 and the financial services sector cutting 4,000 employees.
The report also included some small revisions: The government said June payroll gains were revised down by a total of 27,000 to 179,000, while May’s gain was also revised down slightly to 216,000.
The Trump campaign criticized the Biden-Harris administration.
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“Kamala Harris has proudly and repeatedly celebrated her role as Joe Biden’s co-pilot in ‘Bidenomics,'” Caroline Leavitt, the Trump campaign’s national spokesperson, said in a statement. “She has run off inflation-boosting spending bills in the Senate, and she tells us these failed plans are working, despite evidence that American working families are suffering.”
She added, “Basic necessities like food, gas and housing are becoming harder to come by and unemployment is rising, but Kamala doesn’t seem to care.”
Fox Business’ Megan Henney contributed to this report.
