Good news in a vacuum
The U.S. economy added 206,000 new jobs in June, and even the left and mainstream media were quick to acknowledge that. The overall numbers weren’t that great..
The Bureau of Labor Statistics announced on Friday that nonfarm payrolls rose more than forecasters expected in June. On the surface, this sounds like good news…
But this is not a vacuum.
Other information you should know is:
first of all, The unemployment rate has risen It came in at 4.1%, above forecasters’ expectations and matching the highest level since October 2021.
Now, the big shocker numbers came out today: May payrolls were revised down from 272,000 to 218,000, while April’s figure fell from 165,000 to 108,000.
Yes, that’s right. Bureau of Labor Statistics 111,000 jobs cut Based on April and May combined.
We’re not saying these numbers are falsified, but we’re not ignorant as to what they might look like.
this is Very good for the Democrats And then there are the media defenders. In fact, the strong top-line numbers became the main headlines, even as the previous good news was completely rejected.
The situation is getting worse: the number of long-term unemployed has increased by 166,000 to 1.5 million, Approximately 40 percent increase Since a year ago.
Black and Asian workers also received lower ratings in June. Black Workers The unemployment rate is at its highest in months (6.3%). Asian teeth experience The highest unemployment rate since August 2021.
Government-supported labor market
Another piece of data we like to track at Breitbart Business Digest is Government SalaryAnd sitting down? They made up a good chunk of the 206,000 new jobs. 70,000 new government jobs in JuneThis is almost three times the number from the previous month.
An additional 82,400 jobs were added last month. Medical and social welfare fieldsrelies primarily on taxpayer funding.
we Election Day ApproachesJoe Biden is far behind in the polls, and he and his cohorts will no doubt use taxpayer money to do whatever it takes to manipulate the news cycle to their advantage. It’s infuriating, but it’s hard to blame them. What choice do they have at this point?
But as conscientious observers of American life and politics, it is incumbent on all of us to internalize what is actually going on in the job market.
“The labor market is supported by government pay.” Geoffrey RoachChief Economist at LPL Financial Said Investor.
that’s right.
This fact should come as no surprise to anyone, especially to the faithful readers of this newsletter, but it should prompt serious reflection and frank discussion with friends and loved ones. If Joe Biden is allowed to remain president, the U.S. Progress Towards SocialismThis movement, which is already progressing smoothly, will only accelerate from now on.
