Where are new hirings? Staying home, thanks to D.C.

Monday, May 10, 2021
 | 
Chris Woodward (OneNewsNow.com)

"We are hiring" signA crushingly bad jobs report for April missed expectations by approximately 734,000 workers only to be shrugged off by President Joe Biden, and his response didn’t set well with a financial analyst.  

The figures released last week by the U.S. Labor Dept show 266,000 new jobs were added and unemployment rose slightly, from 6% to 6.1%, after economists had forecast a million new jobs and therefore a drop in unemployment below 6%.

The jobs numbers were so surprising that a CNBC news anchor, reacting to the new figures, re-read the numbers again live on air before calling it disappointing news.

Reacting to the bad news, President Biden said getting people back to work after the pandemic is a “marathon” rather than a “sprint” to full recovery.

“Frankly,” Biden told reporters, “we're moving more rapidly than I thought we would."

"What a lot of spin," responds Joel Griffith, an attorney and financial analyst at The Heritage Foundation.

There is no logical reason, he says, the U.S. economy is not bouncing back especially after the COVID-19 vaccine has been given to anyone who wants it. The truth, he adds, is some people don’t want the U.S. economy to bounce back which makes people less dependent on the government.   

“The only reason why they're continuing to perpetuate this as a crisis,” he tells One News Now, “is because they want to adopt a radical, left-wing agenda that has been authored by actual Marxists."

cash 100-dollar billOne reason Dept of Labor statistics are not reflecting newly hired workers is millions of those workers are staying home collecting taxpayers’ money every week. 

On the same day the dismal jobs numbers were released, the U.S. Chamber of Commerce called on Congress to end the federal  $300-a-week unemployment benefits because that income is keeping would-be employees from getting a job. 

Unemployed workers are getting that weekly income, which ends in September, in addition to state-level unemployment checks, CNET.com, the personal finance website, explained last week. 

“The disappointing jobs report,” a Chamber spokesman said, “makes it clear that paying people not to work is dampening what should be a stronger jobs market.”

According to the Chamber, approximately one in four Americans who have benefitted from pandemic-related relief bills make more in unemployment than working.

State governors in Montana and South Carolina have announced their state governments will stop participating in the generous federal benefit in order to get people off the couch and back at a job. 

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