Fewest Jobs Added In A Year

THE LATEST JOBS REPORT IS BAD NEWS FOR AMERICANS

Today’s jobs report shows many Americans are being left behind as workers continue to see a real wages pay cut under Bidenflation.
- Inflation ate up any wage gains in May, meaning workers’ paychecks are shrinking.
The U.S. economy added just 390,000 jobs last month, the fewest number added back in a year.
Biden inherited a robust recovery and is turning it into stagflation – even Biden’s own economists are warning of a recession.
U.S. average gas prices hit a new record high today, having risen or stayed level every day for over a month.
- Under Biden, all 50 states have hit new record high gas prices, and in all 50 states Americans are paying average prices above $4 per gallon.
- The average American household will spend an additional $2,000 on gas this year because of Biden’s gas hike.
Biden’s baby formula shortage continues to worsen, with out-of-stock rates climbing to 74 percent
The American people can see just how bad things are and are overwhelmingly blaming Biden as a result.

WORKERS ARE BEING LEFT BEHIND

There are still over 800,000 Americans who lost their job during the pandemic that have yet to get it back.
The total number of unemployed Americans in May increased.
- The unemployment rates for women, Black Americans, Black women, Hispanic Americans, and Hispanic women all increased.
- The U-6, a broader measure of joblessness, increased for the second month in a row to 7.1 percent.
As Bidenflation continues to slam hardworking families, the number of Americans working part time for economic reasons increased by 295,000.
Biden’s policies are creating a worker shortage at a time when many Americans are desperate to get back to work.
- For every American looking for a job, there are roughly two job openings that businesses are struggling to fill.
- 1.8 million workers were unable to work in May because their employer was closed or had lost business because of the pandemic.
- 47 percent of small business owners say there are job openings they cannot fill – more than double the 48-year historical average.

BIDENFLATION IS OUTPACING WAGE GROWTH

The jobs report shows that 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.
- April’s Consumer Price Index surged by 8.3 percent compared to last year – a near 40-year high
- April’s Producer Price Index rose by 11 percent since last year, just shy of the highest increase on record.
Inflation is placing more and more Americans in financial jeopardy.
- According to a Bloomberg estimate, the typical U.S. family will spend an extra $5,200 this year due to inflation.
- Congress’ Joint Economic Committee estimates Bidenflation will cost the average American family $6,829 over the next 12 months.
- A Northwestern Mutual study found Americans now have an average of $9,000 less in savings than they did last year.
32 percent of small businesses report inflation as their single most important problem in operating their business, the highest since 1980.

ECONOMISTS ARE RAISING RECESSION CONCERNS

The U.S. economy shrank 1.5 percent on an annualized rate last quarter – worse than originally believed and well below economists’ expectations.
While Biden continues to insist he is not “concerned about a recession,” his own economists are sounding the alarm.
- Biden’s Labor Secretary Marty Walsh said “it is a real likelihood” the United States will have a recession.
- Biden’s economic adviser Jared Bernstein refused to rule out a recession.

AMERICANS BLAME BIDEN FOR AN ECONOMY THAT IS FAILING THEM

Gallup’s Economic Confidence Index is now at its lowest reading since the end of the Great Rescission.
A Gallup poll found 46 percent of Americans rate current economic conditions as “poor” and 77 percent of Americans say the country’s economic outlook is “getting worse.”
A CNBC poll shows that eight of 10 employees are now concerned about a recession in the next year, and 74 percent are concerned their wages won’t keep pace with inflation.
A record number of Americans expect their finances to worsen over the next 12 months.
Under Biden’s failed leadership, 62 percent of Americans disapprove of Biden’s handling of the economy according to a recent NBC News poll.

REPUBLICAN-LED STATES ARE DELIVERING RESULTS

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 April, 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 25 states with the lowest unemployment rates, 20 are led by Republican governors and 20 have Republican-controlled legislatures.
Voters are flocking to Republican-led states, with populations growing in red states like Texas and Florida, while the populations of blue states like Illinois and New York are shrinking.
- Eight of the top ten hottest housing markets are in red states.
Red states are also better for business, with Republican states making up nine of the top ten states for the best business tax climate.
- The four states with the worst business tax climate are all run by Democrat governors.