Biden Economy A Bust: Jobs Report for Worst September Numbers of the Year

Biden Economy A Bust: Jobs Report for Worst September Numbers of the Year


Ongoing fears of COVID-19 and an ongoing shortage of workers are being blamed for the terrible September jobs report released Friday. A CNBC report says the numbers were less than half of what was projected.

According to the Wall Street Journal, 194,000 jobs were created in September. That is the smallest gain since December 2020 and lower than the 366,000 created in August.

Unemployment fell from 5.2% last month to 4.8%. And while the Biden administration may be beaming at that number, the jobs report shows that many Americans gave up job searches and left the workforce.

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Not what ‘experts’ expected

The numbers from the jobs report made Wall Street a little nervous. Senior economist at Capitol Economics Michael Pierce said: “This was the time when many people expected labor shortages to increase, but in fact they are getting worse. It’s a pretty worrying situation.”

Many employers offer higher wages and other incentives, but there are clearly bigger problems.

The appalling jobs report surprised even some in the business and money media. On CNBC’s “Squawk Box”, host Steve Liesman looked at the numbers and seemed surprised by what he saw.

He seemed visibly stunned when he read the actual numbers live on-air.

Watch:

Liesman explained the situation as follows:

“It was definitely a weaker number than expected. Nothing really to worry about in leisure and hospitality. Decline in nursing. Where do we have more drops? Not really big drops here, just not, Becky, the numbers you need to get people back to work now. September is now coming in weaker than August… and I think that’s the big story here.”

In August, when the number of jobs also did not reach the expected figure, Liesman called it ‘a big miss’.

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September Jobs Report The latest in the Biden economy

The September jobs report is not new. It is a follow-up to the August jobs report. Axios reported at the time that the August numbers showed “lean” additions and “indicated a massive slowdown” in Joe Biden’s economy.

If those numbers indicated a massive slowdown, September’s numbers are cause for serious concern.

While August was already a pretty good indication that Biden’s economic policies weren’t working, the poor numbers were attributed to the pandemic, particularly the Delta variant of COVID-19.

Even the liberal media struggled to keep up with the numbers, using words like “terrible news,” “very weak,” “big miss” and “disappointment.”

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Rachel Meadows

Rachel Meadows

Trending topics news writer who enjoys cooking, walking her dog and travel.

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