Average wages grew slower than core inflation, meaning Americans’ real wages and living standards remain stagnant. Friday’s numbers come on the heels of this week’s JOLTS report showing the fewest number of job openings and the fewest number of Americans quitting their jobs since the pandemic.
Tuesday, August 08, 2023
Commentary: Bidenomics Is Pouring Cold Water on the Labor Market
Friday’s jobs numbers show the labor market is softening due to Bidenomics and Bidenflation. Only 187,000 jobs were created last month. That’s below expectations, 40% less than the 12-month average, and the lowest level since the pandemic. Previous months’ employment growth was also revised down significantly, taking the sheen off recent jobs reports.
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ReplyDeleteIt's just one more slice in the Progressive's actively and intentionally destroying America by a thousand cuts. Meanwhile the Republicunts sit around waiting for just a little more evidence. The future is dim my friends.