With the creation of multiple vaccines in historic time, the COVID-19 pandemic seemed close to being over, paving the way for rapid economic growth.
Unfortunately, the economy appears to be struggling under Joe Biden, based on the latest jobs report released Friday morning.
The unemployment was expected to fall to 5.8% and the economy was predicted to add 978,000 jobs, but that didn’t happen despite mass vaccinations and government stimulus…. not by a long shot.
“The numbers are out, and on the top line they are way worse than expected,” reported Bloomberg. “Something seems very off: only 266,000 jobs created in April, and the unemployment rate ticked up to 6.1%, according to the report.”
The number of jobs created is down sharply from previous months. March added 770,000 jobs, while February 536,000, according to revised numbers.
It gets worse. CNN Chief Business Correspondent Christine Romans predicts inflation is coming.
CNN's @ChristineRomans: "If you haven’t felt it yet, it’s coming. You can expect higher prices for toilet paper, diapers, soft drinks, plane tickets, a tank full of gas. Whirlpool is raising prices of some of its appliances by up to 12% …" pic.twitter.com/02JnIf4b4s
— Tom Elliott (@tomselliott) May 7, 2021
Joe Biden inherited a growing economy from President Trump. Thanks to Trump, we got COVID-19 vaccines in record time, paving the way for historic economic growth and recovery from the pandemic. But, based on these numbers, something has gone horribly wrong.
But hey, no mean tweets, right?
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