I was going to write about the “unexpectedly” bad JOBS! JOBS! JOBS! report (which was off by a mere 74% from expectations) but Neo has already written the definitive post on this: The economy surprises the “experts” – again:
It happens nearly every time, almost like Lucy and Charlie Brown and the football. Why are they called “experts”? Well, they’re expert at predicting what the left wishes will happen, and then they’re expert at being perpetually astonished at what actually does happen:
The April jobs report showed the U.S. added only 266,000 jobs during the month and the unemployment ticked up to 6.1%.
Economists are usually off the mark, but holy cow. They predicted 978,000 job growth and unemployment of 5.8%. I have never seen such a huge difference between prediction and numbers.
Miserable considering the U.S. started to see some growth at the end of former President Donald Trump’s term.
And the NY Times, for example, headlines an article about the report this way: “The Jobs Report: The Boom That Wasn’t/April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery.”
Might I suggest that if it takes you more than 2 seconds to ‘unravel the mystery’ of there being 7.4 million job openings but only 266,000 people getting one of those jobs perhaps you ought not try to walk and chew gum at the same time.
As usual the Left won’t let facts get in the way of what they want – which is always more sugar!
Biden said the jobs figures actually show “more help is needed” via his $4 trillion infrastructure and “families” proposals and denied the slowdown is because of the subsidy that he signed into law in March.
Specifically, another round of stimulus checks, $15 minimum wage and universal childcare. There’s nothing wrong here that a little more “Keynesian fairy dust” can’t fix.
One thing we know for sure, the Left will continue to deny that there is any relation between people refusing to go back to work and the $300 weekly supplemental unemployment benefit currently available. They seem genetically incapable of grasping the fact that if you pay people not to work many will do just that.
But hey, as long as we’re not getting any more of those mean tweets everything’s ok, right?
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