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Disappointing April jobs data pose new challenge for Biden agenda

39 Comments
By Chris Stein

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The reality is that anti-maskers and anti-vaxxers are responsible for the slow economic recovery. Of course, “conservatives” will be screaming about how it’s Biden’s economic policies; however, that is simply an expression of emotion rather than facts.

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"We've tried everything. Increasing executive pay. Increasing executive bonuses. Cutting benefits. Demanding unpaid overtime. But for some reason people just aren't applying for our low-paying jobs. We don't understand it."

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Unemployment rate up and only 25% performance of expected job creation. Manufacturing especially disappointing. They also removed 146,000 jobs from March as a “revision”.

Media: let’s hold job seekers accountable not Biden. It’s just one report, noting to see here. Nobody said we would have 1 million new jobs. Who said that!?

dens: this just means we need to spend more money!

Biden: it’s a once in a generation economy collapse when I took over! Don’t Blame me! My plan is 1 year plan, didn’t you know?

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No one can resolve all the major problems in just 100 days. Good progress is being made. Many businesses are finding new workers difficult.

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The reality is that anti-maskers and anti-vaxxers are responsible for the slow economic recovery.

Nice try, even the liberal networks couldn’t spin that abysmal numbers. The REAL reason is, they need to stop doling out unemployment benefits, no more stimulus, no more lockdowns. We have 7.4 million unemployed, expect to worsen, raising taxes and paying people close to what they were making on the job to stay at home will further devastate the economy. Continuing to punish job creators won’t help them to hire people, it will do the opposite and in some cases make them leave the country. Florida is doing fine, DeSantis is encouraging people to go back to work unless they really can’t or incapable then it’s a different story. That’s why he’s limited unemployment benefits. You continue to pay people to stay at home, they will. Even Bill Clinton figured that out, that’s why he created a great economy, he limited unemployment benefits, but at this rate the way this administration is going, more people will continue to move to States that doesn’t have these restrictive and punishing policies that continue to erode the very work fabric of the American worker.

Of course, “conservatives” will be screaming about how it’s Biden’s economic policies;

Even the msm are screaming at this White House.

however, that is simply an expression of emotion rather than facts.

Look at these abysmal numbers, how can it not?

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Bass: Thanks for your highly accurate, well thought out reply. You’re an invaluable contributor to these threads.

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Thanks for your highly accurate, well thought out reply. You’re an invaluable contributor to these threads.

Hate the messenger, don’t hate the message.

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Bass: Thanks for your highly accurate, well thought out reply.

The same can't be said of yours. Refute it, then.

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The data showed important sectors were rehiring, with the leisure and hospitality sector -- comprising the bars and restaurants hardest-hit by pandemic business closures -- adding the most jobs with a gain of 331,000 last month.

These are the lowest paying jobs, so anyone saying an extra $300 a week is stopping people from working is proven false.

jacking up taxes right now on the job creators

Small businesses are the job creators, and small businesses won't be impacted by Biden's corporate tax hikes. This Republican is lying.

Manufacturing will be the wild card over the next few months due to material shortages.

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Oh, and no, I don't support more stimulus money.

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These are the lowest paying jobs, so anyone saying an extra $300 a week is stopping people from working is proven false. 

Yeah, that's what CNN keeps trying to peddle and hopes the willing will buy that.

There are more job openings in the U.S. this spring than before the pandemic hit in March 2020, and fewer people in the labor force, according to the Labor Department and private recruiting sites.

*Surveys suggest why some can’t or won’t go back to work. Millions of adults say they aren’t working for fear of getting or spreading Covid-19. Businesses are reopening ahead of schools, leaving some parents without child care. *Many people are receiving more in unemployment benefits than they would earn in the available jobs.

So why the need to go to work in that case when you can spoon off the government, screw the taxpayer.

Some who are out of work don’t have the skills needed for jobs that are available or are unwilling to switch to a new career.

And with the massive amount of illegals coming into the country that trend will continue to follow and will have a devasting effect, which we can already see.

https://www.wsj.com/articles/millions-are-unemployed-why-cant-companies-find-workers-11620302440

Small businesses are the job creators, and small businesses won't be impacted by Biden's corporate tax hikes.

*Biden has proposed raising the corporate tax rate to 28% from 21%, which would affect roughly 1 million small businesses organized as corporations, according to the conservative Job Creators Network advocacy group.*

So that means, we have to give that idiot Bezos and China more of our money,

The outright tax proposal would raise rates on these small business owners' income to 39.6% from 37%. As noted by NFIB, pass-through businesses are “highly sensitive to individual rates,” with one study finding that a 5% increase in the individual tax rate reduced the number of business owners making capital investments by 10%.

https://www.foxbusiness.com/politics/bidens-tax-changes-small-businesses

This Republican is lying.

Sadly, no. Even CNBC couldn't spend that one.

Manufacturing will be the wild card over the next few months due to material shortages.

From the looks of it at this point with the rising cost of living, probably not.

Trump/DeSantis 2024

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Things are going to take a little more time to get back on track. Be patient. So far so good, death rate down, infections down,...

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Trump won't even be a candidate in 2024. The anti-vaxxers are slowing the progress to recovery.

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Trump won't even be a candidate in 2024.

We went through this in 2016 more like, you HOPE he doesn’t run, but you have no way of knowing that, none of us.

The anti-vaxxers are slowing the progress to recovery.

No, they are not, even CNBC couldn’t spin that one. Limit unemployment unless they are absolutely incapable of working, get them back on the jobs, cut tax rates, it’s killing the small businesses that are left. Open the schools, Florida and Texas are doing it. If this trend continues, that number of 7.4 million will double. Tax increases hurt everyone and every corporation knows it and why some are bailing. Maybe they should move to Dubai

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bass4funk

Trump won't even be a candidate in 2024.

We went through this in 2016 more like, you HOPE he doesn’t run, but you have no way of knowing that, none of us.

Unfortunately, your predictions usually turn out to be unreliable. You even said Trump would never win the election in 2016. Four years is a long time in politics. Personally, I don't care if he runs or not because he'll never win again. No single term president ever did. The GOP might not even survive in its current direction.

Anti-vaxxers like yourself, are slowing the progress to herd immunity and allowing mutations to happen.

To date, there hasn't been a single cent tax increase.

The pandemic recovery needs to be paid for. Earners on less than $400,000 won't have any tax increases. Corporate taxes need to be increased along with capital gains tax over a certain amount. Rich people use capital gains to avoid higher taxes.

But then you stated you have removed your money from the country so not helping out.

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Trump/DeSantis 2024

What a huge waste of time and money for something that will never happen.

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BIDEN: "I keep hearing in the press: 'Biden's going to raise your taxes.' Anybody making less than $400k a year will not pay a single penny in taxes..."

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It is not surprising. Schools are not 100% open yet. Many are open but it is half days and maybe not every day of the week. In our district not all families chose to send their children back to in person classes so the district is providing distance learning for them. The before and after school programs us working parents rely on are not up and running yet. Some are available but they are conducted on line, meaning a parent or child care worker has to be there. I am fortunate to be able to telework so I can be home for our little boy, and sit with him Fridays when the school still does 100% distance learning, but if I had a job that absolutely required me to on site 8-9 hours a day I would not be able to work. There are lots of people in similar situations. Until all the school situations work themselves out it is going to be tough to fill these job openings.

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Unfortunately, your predictions usually turn out to be unreliable.

Lol, this from one of our esteemed members who steadfastly maintained Mr. Trump would win a second term as President pretty much up to the day the Electoral College reported out its delegate count.

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Go see that press statement Biden gave about the poor job numbers.

it was cringeworthy and painful to watch. He stumbled and bumbled through it, repeating himself and fumbling to see the next words he was supposed to say. Water pipes! The pipes that water goes through!

he said that anyone who doesn’t ha e a job lacks dignity. That’s not nice to say when you were expected to create 750,000 more jobs than you did.

i wouldn’t let him even present the Monday morning meeting at work based on his performances at the microphone.

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Btw, it is probably true that Mr. Trump won't be a candidate in 2024. He will be involved in too many legal disputes and by then might even be either in jail or waiting on sentencing. The two investigations in New York are not going away and those are criminal, not civil, prosecutions like the others and they include potentially long jail sentences. He is being sued under the 1871 Klu Klux Klan Act, faces a trial over a 1994 rape allegation in Jeffry Epstein's home. Mr. Trump is being sued separately by two Capital Police officers for inciting the 6 January insurrection buttressed by Washington, D.C. code provisions prohibiting incitement to riot and provocation of violence. This last case is perhaps one of the strongest civil cases since it is simple, they are suing Mr. Trump as a private citizen and the two officers who filed the suit were both injured defending the capital. As such their standing to sue will not be questioned as it could be in the KKK Act case. In addition Mr. Giuliani will have his own legal messes to deal with and those will be in the press. All of these cases will be coming to a head about the time people start focusing on the primaries for the 2024 Presidential campaign. We shall see if people in politics still wish to be associated with him by then.

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Lol, this from one of our esteemed members who steadfastly maintained Mr. Trump would win a second term as President pretty much up to the day the Electoral College reported out its delegate count.

Ok, but that’s not helping Biden and it’s definitely not helping the House so if Biden wants to neglect the growing sentiment and this is exactly what Obama did, he just ignored the numbers, ignored the conservative press, the tea party was formed and out of that came the first tsunamis of the Dems subsequently losing the House and then followed by the Senate and they’re doing it all over again. When the liberal press is dumbfounded and don’t even know how to insulate Joe from this disastrous report. Even CNN is slowly in a more subtle way saying, this is just not good for Joe and the nation. He’s the President liberals can’t cherry pick the parts they like and the parts they hate.

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CNN totally ignored the poor numbers. They are on some tirade about blaming Trump for the current condition of the White House lawn.

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CNN totally ignored the poor numbers. They are on some tirade about blaming Trump for the current condition of the White House lawn.

Imagine hating a news channel so much you're compelled to watch it, and rant online about how terrible it is. Hilarious. Did you lose your remote or something?

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CNN totally ignored the poor numbers. They are on some tirade about blaming Trump for the current condition of the White House lawn.

Did Fox News blame it on the firing of space lasers? Mr Potato Head?

You can always turn the partisan media outlets off, you know

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worst jobs performance vs expected in 23 years.

https://www.cnbc.com/2021/05/06/april-jobs-expected-to-top-1-million-as-consumers-boost-the-economy.html

“Economists expect to see job creation in each of the next several months of over 1 million... economists expect 1 million jobs were added in April, with the unemployment rate falling to 5.8% from 6% in March” (WRONG)

“We'll get a good number, which is great. It's just so nice to see numbers that are encouraging compared to the gut-wrenching numbers we had a year ago," said Diane Swonk, chief economist at Grant Thornton (WRONG, self own trying to compare to “last year”)

“April is the first month of the second quarter, which is expected to be the peak in terms of growth.” (PEAK? Uh oh)

“...Goldman Sachs economists said in a note. They expect job growth of 1.3 million” Even MORE wrong)

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BIDEN: "I keep hearing in the press: 'Biden's going to raise your taxes.' Anybody making less than $400k a year will not pay a single penny in taxes..."

You need to get your hearing checked. What is true is that if you earn under $400K per year your taxes won't go up. from where they are now.

Meditate on this. Federal revenues from all sources for 2020 were 16.33488% of GDP. Federal net outlays for 2020 were 31.29393% of GDP. The difference is the Federal budget deficit for 2020. My data source is the Saint Louis Fed.

https://fred.stlouisfed.org/series/FYONGDA188S

https://fred.stlouisfed.org/series/FYFRGDA188S

How does the US close that gap and reduce the annual budget deficit?

More data. Tax revenues from all sources in the US, meaning Federal, state and local revenues are 24.5% of GDP based on the latest OECD data set (link provided). The OECD average tax burden is 33.8% of GDP.

https://www.oecd.org/tax/tax-policy/revenue-statistics-highlights-brochure.pdf

A good argument could be made that by international standards, the US under taxes its citizens and this is the source of the huge accumulated Federal debt, a debt that I have pointed out many times here gives America's trade partners the tool they need, those Federal bonds sold to finance the debt, to maintain the trade imbalance in their favor. The US very much needs to run balanced budgets like it did in 1999 and again in 2000 when Federal receipts were 19.75% of GDP and the US was not at war anywhere. The US can do it again without great pain if the so called leaders in Congress will allow it to happen. Unfortunately those deficits are too often used as an excuse to cut social services and educational funding, which suits some political ideologies more than running a balanced budget does.

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There is a thing called the internet. And despite the racially tinged public comments of our president, I can confirm that Black people know how to “get online”.

Imagine hating a news channel so much you're compelled to watch it,

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Imagine hating a news channel so much you're compelled to watch it,

Oh, don’t misunderstand me, I don’t watch it. I just see the highlights of the most important parts on Fox and Newsmax, they save me the agony.

Yahoo News: “April jobs report: Payrolls rose by 266,000, sharply missing estimates, as unemployment rate increased to 6.1%”

Slate: “The Jobs Report Was Shockingly Bad. Please Don’t Overreact.”

Vox: “Don’t freak out about the jobs report yet”

Fox Business: “US hiring sharply misses expectations in April with just 266,000 new jobs added”

CNN Business: “Major disappointment: America added way fewer jobs than expected in April”

Axios: “U.S. adds just 266,000 jobs in April, far below expectations”

MSNBC: “Job growth in April falls short, jolts debate over Biden’s plans”

Newsweek: “Joe Biden’s April Jobs Report Posts Biggest Miss During Presidency”

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Yet that was not what was said, my ears work fine. Read the direct quote.

also not mentioned was that if you and your spouse together make more than that, your taxes go up. Also not mentioned that your stock earnings/401k balance will go down by high corporate taxes. Yet the taxes you pay on your lesser earnings will double as capital gains tax.

You need to get your hearing checked. What is true is that if you earn under $400K per year your taxes won't go up. from where they are now.

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Oh, don’t misunderstand me, I don’t watch it. I just see the highlights of the most important parts on Fox and Newsmax, they save me the agony.

Misunderstand you? I wasn't talking to you.

There is a thing called the internet. And despite the racially tinged public comments of our president, I can confirm that Black people know how to “get online”.

ah, so you watched youtube videos of CNN? Read news articles about how bad CNN is? Doesn't matter. The fact is you still wasted your time reading/watching and then posting about a news company you hate. Well done.

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So I’m correct in my assertion that you only exist here to reply to the comments of others and have nothing to add to the conversation yourself?

no comments about the worst job report vs. expected in 23 years? You used to have comments when the other guy missed by 30,000 jobs but 750,000 miss and all you want to do is less than 1 minute replies to ME?

must be over the target if you feel the need to try to discredit me. So thanks!

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So I’m correct in my assertion that you only exist here to reply to the comments of others and have nothing to add to the conversation yourself?

lol What substance do you add? How valuable is it to whine about what CNN is saying? Good grief.

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Readers, that's enough bickering. No further posts form anyone who has already posted on this thread today, thanks.

The anti-vaxxers are slowing the progress to recovery.

You probably didn't study about this in your U.S. History class while growing up in Europe but please Google the Tuskegee Experiment.

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Not everyone would want to trust the statistics from the Labor Department. The number of jobless and the rate of unemployment in US have often been contentious, subject to further scrutiny and clarification.

Of course Biden does not like the latest figures.

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This is certainly concerning news, but it’s early and Joe is making good progress. The faster he gets the country vaccinated, the sooner the rebound will start.

Actually, these numbers create an argument for his jobs and infrastructure plan. It’s a lot of money but as analysts have said, the Leahman crisis reaction was underfunded and delayed the recovery.

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no comments about the worst job report vs. expected in 23 years?

I am more interested in understanding why there was an expectation that there would be something on the order of 1 million new jobs. That is an unprecedented number of new hires for one month. Where did this expectation come from?

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What I don’t understand is how certain sectors like hospitality are reporting a labor shortage and yet the jobs report was less than was expected.

It would seem that there is more structural and less frictional unemployment in the labor market.

I was a supporter of extended unemployment benefits, but it might be time to rethink them if this trend continues.

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