Job growth was “much less than expected” in April — as the unemployment rate jumps back to its highest in more than two years.
That’s the “STAGFLATION” of the Biden economy.
The economy added just 175,000 jobs in April — far below economists’ expectations — while the previous two months saw significant downward revisions. Overall unemployment ticked up, as did unemployment among Hispanic Americans, Asian Americans, veterans, and Americans without high school diplomas.
Overall, 777,000 more Americans are unemployed than one year ago — while more foreign-born workers have joined the labor force under Biden than native-born American workers.
The sluggish headline number is far from the only bad news. Permanent job losses and temporary layoffs both increased, as did the number of Americans with part-time jobs for economic reasons and the number of long-term unemployed Americans.
Labor force participation still remains well below pre-pandemic levels.
It's the latest indication of a slowdown in Biden’s economy, which has been roiling Americans’ finances since the day he took office.
That’s the real cost of Bidenomics — and the only way back to prosperity is re-electing President Donald J. Trump in November.
