On Friday, Biden touted the jobs report as evidence that his economic policies are working. But, unfortunately, it’s not quite the colossal win Biden and Democrats want you to believe.

President Biden and Vice President Kamala Harris took to Twitter after the release of the latest jobs report:

Today’s jobs report shows that the economy added 528,000 jobs in July. More people are working than at any point in American history. That’s no accident, it’s results.

Trending: While “Fact-checkers” Play Defense For Obama… Here’s The Truth About 30 Million Pages of His Regime’s Records that Were “Trucked to Chicago”

Kamala joined in and posted on Twitter:

This morning’s jobs report shows our economy added 528,000 jobs in July, and the unemployment rate matches the lowest it’s been in more than 50 years. More people are working than ever before. We have more to do, but today’s jobs report shows we are making significant progress.

Save up on MyPillow products. Use promo code FedUp at checkout and save 50% on individual MyPillow Towels.

In a Friday press release,” the Bureau of Labor Statistics said “the nonfarm payment “rose by 528,000 in July,” while the unemployment rate “edged down to 3.5 percent.”

The economy added an unexpectedly high 528,000 jobs in July while the unemployment rate fell slightly to 3.5%, according to figures released by the Bureau of Labor Statistics on Friday.

As a result, total nonfarm employment and unemployment rates returned to their February 2020 levels under then-President Trump before the COVID-19 pandemic.

WATCH THE VIDEO:

 

“Today, the unemployment rate matches the lowest it’s been in more than 50 years: 3.5%,” Biden said in a statement. “More people are working than at any point in American history … and it’s the result of my economic plan to build the economy from the bottom up and middle out.”

Biden didn’t note in his comments that the other time in the past half-century, the unemployment rate was as low as 3.5% under President Trump.

The strong job numbers will give the president and his supporters ammunition to argue the economy is not in, or on the verge of, a recession, despite the U.S. experiencing two straight quarters of negative economic growth.

At first glance, the Labor Department’s newly released jobs report for July appeared to be good news for the economy. However, a deeper look reveals a different picture; here’s the reality most media outlets and the White House will not mention:

With U.S. inflation racing ahead of worker wages,  Americans, strapped for cash by inflation, take on second jobs to make ends meet. 

In other words, while the overall job figures look encouraging, the underlying reality is that most Americans work two full-time jobs. Families are looking for additional sources of income to weather historically high inflation.

Fewer people today are working multiple jobs. That sounds like a good thing and contradictory to the earlier statement; unfortunately, according to federal labor data, more Americans than ever hold two full-time jobs, amounting to more than 70 hours a week. For example, data shows that in June, 426,000 people worked two full-time positions, compared to 308,000 in February 2020.

The White House was busy putting a rosy spin on the economy, which it badly needs as the midterms approach. White House chief of staff Ron Klain was active on Twitter with all the retweets about the report:

Fox Business Network’s Charles Payne broke down the “528,000 jobs added in July,” and let’s say this particular perspective will not earn a Ron Klain retweet:

How many of those added jobs were people taking on extra work to keep up with gas and inflation?

Many Americans have already cut back on spending where they can, while others have tapped their pandemic savings to cover the rising cost of food, gas, rent, and other necessities. The highest inflation in 40 years continually weighs heavily on millions of households. According to a recent survey, three-quarters of middle-income Americans say they don’t earn enough to pay for the cost of living.

The White House will do anything to put a rosy spin on the economy that badly needs it as the midterms approach.

Polling indicates inflation is causing Americans to feel economic pain.

For example, a recent Harvard CAPS/Harris poll found that 64% of Americans think their financial situation is worsening. Other surveys have shown that about six in ten Americans live paycheck to paycheck.

Meanwhile, Biden’s economic approval rating dropped to just 30%, according to a CNBC survey from last month.

Join The Conversation. Leave a Comment.


We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.