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Thursday, August 11, 2022

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Charles Payne Points out Problem in Jobs Report, Peter Doocy Drives It Home to WH – RedState



The Biden team is trumpeting the new jobs report that came out on Friday indicating that there were 528,000 new jobs, which was far more than expected.

Except not so much, as Fox’s Charles Payne indicates. You can see here from the chart how the labor force participation is continuing to go down from May. So what does this all mean? Payne notes that full-time jobs are down by 71,000. What’s up are part-time jobs by 384,000 and people holding multiple jobs, up by 92,000.

So what does that mean? Labor participation is still lower than it was before the pandemic. It likely means things like retired people having to take a part-time job and other people having to take a second job to keep up with the rising prices in the crush of Bidenflation. If you’ve looked around when you’ve gone out, you may see some evidence of this — retired-age people working jobs that you might generally see teenagers working to supplement Social Security. That’s not exactly a sign of a healthy economy, no matter how the Biden people want to slice it.

The number of people holding two full-time jobs is also at a record high. That’s also not a good thing.

Payne noted how things were not going well for black Americans.

Fox’s Peter Doocy followed up on that labor participation point with White House Press Secretary Karine Jean-Pierre. First, she didn’t seem to understand what he was saying. Then she tried some world-class spin away from the real number to suggest that the number had gone up. Just ignore the reality that it went down.

The bottom line also is that inflation is outpacing any real wage gains. So even if you were getting paid more, you have less purchasing power because of Bidenflation. So it’s effectively working like a pay cut.

So, while the Biden team is going to pitch the news as good, there are troubling signs in this report of the continuing problems.





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