September Job Growth Exceeds Expectations As Unemployment Falls
US adds 254,000 people Nonfarm payrolls decreased in September as the unemployment rate fell to 4.1%, according to Bureau of Labor Statistics (BLS) data released Friday. Economists predict 150,000 people jobs added to septemberthe unemployment rate is expected to remain at 4.2%, slightly higher than the originally reported increase of 142,000 jobs in August. According […]
Fmr Reagan Economist Blasts Unemployment Spike As ‘Bad Policies’ Result, Argues Trump’s Econ Plan Could Revive Growth
Former Reagan administration economist Art Laffer said on Fox Business on Monday that rising unemployment is the result of “bad policy” and touted the potential for former President Donald Trump's economic plan to restore economic growth. After announcing a 50-point cut in the federal funds rate last week, Federal Reserve Chairman Jerome Powell said one […]
Fed’s Powell says immigration surge boosted unemployment rate
Acting Labor Secretary Julie Su was asked about whether migrants who cross the border should be allowed to work in the United States. Federal Reserve Chairman Jerome Powell He said Wednesday that immigrants entering the workforce and looking for jobs is contributing to the rising unemployment rate. Powell was asked whether the level of job […]
Migration Is Raising Americans’ Unemployment Rate
Federal Reserve Chairman Jerome Powell said the country's unemployment rate is rising due to the massive influx of immigrants under Alejandro Mayorkas. The statement acknowledges the extraordinary political power the Cuban-born Secretary of Homeland Security has amassed. Mayorkas' ability to raise and lower immigration rates has made him a de facto “labor czar,” giving him […]
Fed chair Jerome Powell blames influx of illegal migrants for rising unemployment rate
Federal Reserve Chairman Jerome Powell on Wednesday blamed the migrant crisis for rising unemployment in the country after cutting interest rates by half a percentage point for the first time since the early days of the COVID-19 pandemic. “If millions of people join the workforce and 100,000 jobs are created, the unemployment rate is going […]
Jerome Powell Suggests ‘Influx’ Of Migrants Are Contributing To Rising Unemployment
Federal Reserve Chairman Jerome Powell suggested at a press conference on Wednesday that immigration is fueling rising unemployment. Powell spoke to reporters after the Fed announced it would cut the federal funds rate by 0.50 percentage point after disappointing job gains in July and August. The unemployment rate is now at 4.2%. 3.4% April 2023 […]
Kamala Harris Claims She Inherited ‘Worst Unemployment Since the Great Depression’
The claim: The Biden-Harris administration inherited “the worst unemployment rate since the Great Depression,” Vice President Kamala Harris argued Tuesday at a National Association of Black Journalists rally. Verdict: False. “This is an exaggeration.” According to To PolitiFact: In April 2020, as the pandemic began to rage, the unemployment rate soared to 14.8%, a post-Great […]
California GOP pushes back on bill that would give unemployment benefits to illegal immigrants
California Democrats are working to push a new bill aimed at providing benefits to illegal immigrants, but Republican lawmakers are pushing to block the new bill. “It is an insult that California Democrats are even considering expanding unemployment benefits to illegal immigrants,” Senate Majority Leader Brian Jones said in a statement to Fox News Digital. […]
Taxpayers lost more than $100B to COVID unemployment insurance fraud, committee finds
First appeared on FOX: The House Oversight Committee reported that American taxpayers have lost more than $100 billion to fraud and improper payments as a result of the temporary unemployment insurance program created in response to COVID-19. Fox News Digital obtained the House Oversight Committee report following a months-long investigation looking into fraud in the […]
Surging Unemployment and Recession Risk Cement September Rate Cut
July employment crisis brings interest rate cut forward to September It looks like the market is finally getting what it has been waiting for for over a year.The Federal Reserve cuts interest rates. The July jobs report released on Friday showed the labor market in much weaker shape than previously thought. Economists had expected demand […]