As President Joe Biden threatens to raise taxes on American job creators, as unemployment benefits continue and as inflation gains steam, the latest economic picture is a bleak one.
According to the Bureau of Labor Statistics, unemployment has gone up rather than down as Wuhan coronavirus restrictions across the country are lifted.
"It looks like it was a big miss," CNBC reports.
The April jobs report was so bad @CNBC had to double check the number to make sure they read it correctly. pic.twitter.com/I7AHf1jUP2
— Mike Berg (@MikeKBerg) May 7, 2021
"A big miss on jobs, the worst miss we're told since [19]98,"analysts continue.
Joe Biden’s economy:
— Steve Guest (@SteveGuest) May 7, 2021
The April jobs report was the worst miss in 23 years: "The worst miss, we're told, since '98."
pic.twitter.com/UL9sbDeMYD
Today’s jobs report is a disappointment—just like President Biden’s plan to burden families with more taxes & more debt.
— Kevin McCarthy (@GOPLeader) May 7, 2021
While Dems trap people in a cycle of fear & pay them NOT to work, it’s clear the best thing to do is end the crisis-era policies & get Americans back to work.
The news comes as prices rise on basic household goods, groceries and energy, prompting fears of increased inflation.
The economists predicted that the April jobs report would show +1 million this morning.
— Pomp ?? (@APompliano) May 7, 2021
Instead, it showed +266k.
If they’re off by almost 75% on a monthly jobs report, how much are they off on other predictions like inflation?