Palestinian Mob Surrounds, Jeers at Hostages on Day Six of Release
Americans Pay Staggering Amount in Taxes to Care for Illegal Immigrants
Biden's Electric Car Agenda Takes Another Hit
Are You Serious? That's What Caused University of Arizona's $240 Million Shortfall
White House in Disarray As TikTok Turns Against Biden
'I'm Fed Up': Newsom Announces Plan to Clean Up Homeless Encampments Along State...
Biden Administration Weighs Re-Designating This Group As a Foreign Terrorist Organization
Make America More Like...Honduras?
DeSantis Announces Plan to Create Term Limits for U.S. Congress
CNN Got an Exclusive Look at Liz Cheney's Book...and It's Exactly What You'd...
BLM Leader Reveals His Endorsement for the White House in 2024
Here's the Latest Group to Celebrate Dylan Mulvaney
It's Not Just Young People Who Biden Has a Polling Problem With
House Reaffirms Israel's Right to Exist With Near Unanimous Support
One Republican Presidential Candidate Says He Won't Sign a Six-Week Abortion Ban

October Jobs Report Beats Expectations But There's Still One Problem

AP Photo/Rogelio V. Solis, File

After a two-month slump, Friday’s jobs report was a positive step for the U.S. economy, with 531,000 jobs added in October. The unemployment rate dropped from 4.8 percent to 4.6 percent.


While it beat expectations, according to Bloomberg, "it’s still not the blockbuster economists had expected earlier in the summer, especially in light of recent declines in Covid caseloads and the expiration of pandemic unemployment benefits."

Gains were seen in leisure and hospitality, manufacturing, transportation, professional and business services, and warehousing, the Bureau of Labor Statistics said.

As Jobs Creators Network notes, however, the labor force participation remained unchanged at 61.6 percent, hovering close to that rate since June 2020. 

Fox Business's Charles Payne also pointed out the "problem" with the stagnant labor force participation rate. 


“Job growth remains disappointing, and the reason is clear: The Democrats’ ‘War on Small Business’ is fueling inflation, causing major supply chain disruptions, and exacerbating a record national labor shortage,” said JCN president and CEO Alfredo Ortiz. “The elections in Virginia and New Jersey showed that Americans are fed up with the Biden agenda.  The Democrats, however, remain in a state of denial. Two days after the election, they moved ahead with a vaccine mandate on small businesses that will cause even further economic damage.”

Making matters worse, Democrats in Washington are moving forward on Biden’s Build Back Better agenda.

“Instead of using Tuesday’s elections as a reason to pull back, they are moving full steam ahead with a pair of spending bills that will cost around $3 trillion,” he continued. “Those bills will be paid for, in part, by new taxes on small businesses that will send our economy into the worst stagflation in decades: a redux of the Jimmy Carter Era. The Democrats need to hit the ‘reset’ button: stop the mandates, stop the spending, and let America’s small businesses lead our recovery.”

Join the conversation as a VIP Member


Trending on Townhall Videos