Employers should pay higher wages in the labor shortage, and the government should cut the labor shortage by welcoming migrants, according to meandering and emotional answers given by President Joe Biden at a CNN town hall.
“Build back better” was a phrase often heard from Joe Biden and the Pravda-dems in the leadup to the sham 2020 election.
This was after President Trump created the most vibrant economy in US history prior to the Coronavirus.
In the most recent report from the US Labor Department, the number of Americans who filed for initial jobless claims skyrocketed by 51,000 in just one week.
Last week, Over 419,000 unemployment claims were submitted. The staggering increase was above what was expected and comes just days after the number of new applications declined to a pandemic-low at the beginning of July.
The Department of Labor reported: “In the week ending July 17, the advance figure for seasonally adjusted initial claims was 419,000, an increase of 51,000 from the previous week’s revised level. The previous week’s level was revised up by 8,000 from 360,000 to 368,000. The 4-week moving average was 385,250, an increase of 750 from the previous week’s revised average. The previous week’s average was revised up by 2,000 from 382,500 to 384,500.”
Unemployment Insurance Weekly Claims
Initial claims were 419,000 for the week ending 7/17 (+51,000).
Insured unemployment was 3,236,000 for the week ending 7/10 (-29,000).https://t.co/ys7Eg5LKAW
— US Labor Department (@USDOL) July 22, 2021
Around two dozen states, most of which have Republican governors, have stopped adding an additional $300 in federal money to their unemployment benefits. The extra money is set to expire nationwide in September and even Biden himself admitted last night that it is “keeping people from going back to work.”
The federal money is undoubtedly a main reason that the job market has stagnated, but it does not explain all of the claims are currently being filed.
The astonishing number of new submissions has not been reflected in the total of continuing unemployment claims since claims updates are a week behind. As of July 10th, continuing claims are down by 29,900, but they are expected to climb rapidly over the next few weeks as the reporting catches up.
This is yet another concerning indicator of what we might be facing in the months ahead.
Be prepared for the upcoming push for more lockdowns and mask mandates.
With their new political cudgel (the delta variant), and the consistently anti-american policy decisions being made by this administration, we are in a significantly worse place than we were when sleepy-Joe was planted in office.
The post Biden’s ‘Recovery’: Jobless Claims SKYROCKET, Jump 51,000 in Just 1 Week appeared first on The Gateway Pundit.
White House Press Secretary Jen Psaki on Thursday said small business owners should compete with the government and pay more wages.
It is well known that the Biden Admin is making it harder for small businesses to find workers because people are being paid a lot of money to stay home.
According to The Wall Street Journal, an unemployed couple living in a blue state can make up to $100,000 a year in state and fed benefits – just to sit at home.
“In 19 states, benefits are the equivalent of $100,000 a year in salary,” The Wall Street Journal reported.
Restaurants are having trouble hiring people because they simply cannot compete with the government.
A restaurateur who attended CNN’s town hall Wednesday evening confronted Joe Biden and told him government benefits are making it impossible to find workers.
Biden scolded the struggling business owner and told him to pay more money to find workers.
Psaki doubled down when asked about Biden’s callous answer to the restaurateur.
‘It’s a worker’s market and in some places it may be that you have to pay more wages in order to attract workers,” Psaki said.
Big business interests are ramping up their lobbying for more legal immigration to the United States as nearly 16 million Americans remain jobless and millions more are underemployed.
Not even close to being true.
Netflix stock tumbled five percent after revealing that it lost nearly 500,000 subscribers and missed its projected growth rate by more than two million new subscribers.
House Speaker Nancy Pelosi (D-CA) announced Thursday she will refuse to take up the Senate’s bipartisan so-called infrastructure deal until the Democrats’ partisan companion $3.5 trillion reconciliation package is passed by the Senate.
Snalred supply chains and a lack of workers are forcing manufacturing prices up at a record pace in the American Midwest
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Although the coronavirus pandemic and possible economic fallout is not yet over, some areas of the country are reporting unexpected budget surpluses due to the […]