The post THE BIDEN EFFECT – Disappointing August Jobs Report Comes In Way Lower Than Expected appeared first on American Lookout.
The August jobs report has come out and it is a major disappointment.
The expectation was for over 700,000 jobs to be created and the actual number is just over 200,000.
This is on Joe Biden. He would be taking credit if the report was good news. He also gets the credit for bad news.
Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000
Job creation for August was a huge disappointment, with the economy adding just 235,000 positions, the Labor Department reported Friday.
Economists surveyed by Dow Jones had been looking for 720,000 new hires.
The unemployment rate dropped to 5.2% from 5.4%, in line with estimates.
August’s total — the worst since January — comes with heightened fears of the pandemic and the impact that rising Covid cases could have