The August Jobs Report Shows Biden Is Squandering The Economic Recovery He Inherited, Harming American Workers, Families, And Businesses

A TERRIBLE JOBS REPORT

• The August jobs report shows that Joe Biden continues to squander the economic recovery inherited.
• The economy added just 235,000 jobs in August, coming in nearly half a million jobs below economists’ expectations.
• Far too many businesses are desperately trying to hire and re-open while workers are struggling to get their jobs back because of Biden’s policies.
  • In Biden’s economy, businesses around the country can’t find workers to fill a record 10 million job openings even though there are more than 8 million unemployed Americans.
• As American workers and businesses are still struggling to recover, and families are facing rising prices, now is not the time for Biden and Democrats’ $3.5 trillion tax and spending spree.

FEWER JOBS THAN EXPECTED AND HIGH UNEMPLOYMENT

• The economy added just 235,000 jobs in August, “a big miss,” “a disappointment,” and “terrible news” for the country.
  • This was nearly half a million jobs below economists’ expectations, meaning the economy added 70 percent fewer jobs than expected.
  • 3,000 construction jobs and 28,500 retail jobs were lost in August.
  • No leisure and hospitality jobs were added last month, even though this is a time when the industry should be surging back.
• At 5.2 percent, the unemployment rate is still far too high, and would be lower if it wasn’t for Democrats’ policy of paying Americans not to work.
  • 1.8 million out-of-work Americans have turned down jobs because these payments are too high.
  • Ending this harmful policy is one reason why red states are beating blue states in recovering jobs.
• The unemployment rate for Black Americans actually increased in August, spiking to nearly 9 percent.

MANY WORKERS ARE BEING LEFT BEHIND IN BIDEN’S ECONOMY

• 5.3 million, or 24 percent, of the jobs lost since the pandemic began have still not been recovered.
• There are still 8.4 million unemployed American workers, nearly 3 million more than before the pandemic began.
  • The number of workers who were unable to work in August because their employer was closed or had lost business because of the pandemic increased to 5.6 million.
  • 4.5 million Americans are working part-time for economic reasons.
  • 3.2 million American workers have been unemployed for more than half a year.
• For the first six months of Biden’s presidency, higher prices have exceeded wage growth every month, wiping out pay raisesand making the money Americans earn worth less.

RED STATES LEADING THE RECOVERY, WHILE BIDEN AND DEMOCRATS ARE HOLDING IT BACK

• Through July, 16 of the top 20 states for recovering jobs from the pandemic are led by Republican Governors.
  • Out of the top 20 states with the lowest unemployment rates, 16 are led by Republican Governors.
• While Republicans are leading the way in getting workers back on the job, Biden and Democrats support paying Americans not to work.
  • 1.8 million out-of-work Americans turned down jobs because Democrats’ “enhanced” unemployment payments are so high.
  • 50 percent of small business owners reported job openings they could not fill, a record high.
  • Mom and Pop businesses are struggling to find workers due to this labor shortage Biden has caused.
  • Biden doesn’t seem to care about these businesses, telling them to “compete” with the government paying people not to work.

BIDENFLATION IS TAKING A TOLL ON WORKERS AND FAMILIES

• As American workers and small businesses are still struggling to recover, families are facing rising pricesfor everyday goods.
  • Americans across the country feel it in their paychecks and pocketbooks, with inflation at its highest rate in over a decade.
• Consumer prices rose at 5.4 percent in July – remaining at the highest rate since 2008.
  • Rapidly rising prices for everyday goods have completely swamped any wage growth, with paychecks actually shrinking last month when inflation is factored in.
• Core consumer prices are up 4.3 percentfrom a year ago, right on the coattails of last month’s largest increase in nearly three decades of 4.5 percent. 
  • Before the Biden administration, the last time core consumer prices increased by 4 percent was in 1991. 
• Producer prices rose 7.8 percent in July, the fourth month in a row the index reached a new high.
• Economists forecast that if nothing changes, rising prices are “here to stay for years.” 
• Now is not the time for Biden and Democrats’ trillions in reckless tax hikes and new spending, which would create even more inflation.