Today’s jobs report offers no relief to Americans already saddled by relentless inflation, record consumer debt, and sky-high prices.
Overall unemployment rose to 3.8 percent in August, with unemployment among Hispanic Americans, Asian Americans, veterans, and women seeing the biggest increases. The number of long-term unemployed Americans also shot up while the labor force participation rate remains below pre-pandemic levels.
Meanwhile, three-digit revisions to jobs numbers from the past two months show a “deterioration” in job growth.
All told, the past three months represent the worst three-month stretch for job growth since the beginning of the pandemic, with an average of just 150,000 new jobs each month since May.
It’s the latest indication that “Bidenomics” is a total bust.
