Biden’s Worst Jobs Report Of The Year

THE WORST JOBS REPORT OF THE YEAR

With the economy adding just 263,000 jobs in November, this is the worst jobs report of the year and tied for the worst of the Biden presidency.
Americans are struggling to afford gas, groceries, and other necessities as their paychecks continue to shrink.
- Inflation ate up any wage gains in November, meaning workers are seeing a massive pay cut under Biden.
Companies have increasingly been announcing layoffs and hiring freezes, while the retail industry is “hiring fewer seasonal workers this holiday shopping season, as stubborn inflation dims the outlook for retail sales.”
U.S. average gas prices currently sit at $3.45 per gallon which is over $1.00 higher than when Biden became president.
Despite Biden’s attempts to downplay his failures, Americans are not fooled; they know Biden is to blame.

WORKERS ARE LEFT BEHIND IN BIDEN AND DEMOCRATS’ ECONOMY

For the third month in a row, the labor force participation rate fell at a time when it should be expanding.
The number of long-term unemployed Americans and the number of Americans working part-time for economic reasons both increased in November.
The employment rate among workers in their prime working years (ages 25-54) has now fallen for the third straight month.
Biden’s policies are creating a worker shortage at a time when many Americans are desperate to get back to work.
- There are 10.3 million job openings that businesses are struggling to fill, even though there are 6 million unemployed Americans trying to find a job.
- 44 percent of small business owners say there are job openings they cannot fill – nearly double the 49-year historical average.

AMERICANS ARE POORER TODAY THAN WHEN BIDEN TOOK OFFICE

Bidenflation is shrinking workers’ paychecks, with rising prices eating up any wage growth.
Key inflation indicators show higher prices are here to stay under Biden.
- October’s Consumer Price Index soared by 7.7 percent compared to last year, remaining excessively high.
- October’s Producer Price Index rose by 8 percent since last year.
With inflation continuing to persist, working-class families are facing a major pay cut.
- Real average hourly earnings fell 2.8 percent since last year, marking the 19th month in a row under Biden in which inflation has outpaced wages.
- Real wages have fallen every month since Biden and Democrats passed their wasteful $1.9 trillion “stimulus.

UNDER BIDEN, STRUGGLING AMERICANS ARE FORCED TO TAKE ON MORE DEBT, REDUCE SAVINGS

Inflation is placing more and more Americans in financial jeopardy, with the U.S. savings rate now at a 17-year low.
With rising prices forcing millions to make tough choices, 75 percent of Americans are afraid Bidenflation will have a negative impact on their retirement plans.
- 54 percent of Americans report stopping or reducing their retirement savings altogether because of higher prices and 43 percent report drawing money out of their retirement accounts to pay for daily expenses.
Households across the country have increased debt at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances.
- Overall, credit card balances jumped 15 percent in the third quarter of 2022, notching the largest year-over-year increase in more than 20 years.
60 percent of workers report living paycheck-to-paycheck – just shy of the historic high of 64 percent.
Congress’ Joint Economic Committee estimates Bidenflation cost the average American family $753 in October.

AMERICANS ARE NOT HAPPY WITH BIDEN AND DEMOCRATS’ ECONOMY

American families are seeing higher prices for virtually everything, and they know exactly who to blame: Biden and Democrats.
According to an Economist/YouGov poll, 61 percent of Americans believe the country is on the wrong track and 73 percent of Americans describe the current state of the economy as either poor or fair.
An Ipsos poll found that 31 percent of Americans view inflation/rising costs as the most important problem facing the United States.
A Harvard/Harris poll found that most Americans, roughly 53 percent, say their financial situation is worsening and only 39 percent of Americans approve of Biden’s handling of the economy.
A CNBC survey found that roughly half of shoppers will buy less this holiday season due to higher prices.

DEMOCRATS’ RESPONSE TO THE CRISIS THEY CREATED: MORE INFLATIONARY SPENDING

As Americans struggle to get by, Biden and Democrats not only caused inflation but are threatening to make it worse.
In March 2021, Biden and Democrats passed their inflation-fueling $1.9 trillion “stimulus,” which even liberal economists and think tanks say ignited inflation.
In August, every single Democrat voted to pass the Bidenflation Scam, which experts say will worsen inflation and raise taxes on working-class Americans.
- Studies from the Tax Foundation, Penn Wharton Budget Model, Moody’s, and the Congressional Budget Office all found that the bill will either make inflation worse or do basically nothing to bring down inflation.
- The Tax Foundation concluded that the Bidenflation Scam Act will “worsen inflation especially in the first four” years.
To top this off, Biden is now pushing his student debt bailout, which experts warn will cost taxpayers billions and worsen inflation.

REPUBLICAN-LED STATES ARE DRIVING JOB GROWTH

Biden deserves no credit for jobs that have been created – he paid Americans not to work for months and stifled economic growth.
- 250,000 fewer jobs were created in 2021 than what Biden promised.
Republican-led states are the ones creating jobs and leading the economic recovery.
- Through October, nine of the top 10 states for jobs recovered since the coronavirus pandemic began are led by Republican governors, and all 10 states have Republican-controlled legislatures.
- Out of the top 15 states with the lowest unemployment rates, 13 are led by Republican governors and 12 have Republican-controlled legislatures.