Biden’s job’s report came out this morning as a huge disappointment because it failed miserably to meet the minimal expectations of economists:
THE HILL – The U.S. added just 194,000 jobs in September as the economy struggled under the surge of the COVID-19 delta variant, according to data released Friday by the Labor Department.
The unemployment rate fell sharply in September to 4.8 percent, a decline of 0.4 percentage points. But employment growth also fell sharply for the second consecutive month after a staggering rise in coronavirus cases began in late July.
Economists expected the U.S. to add roughly 500,000 jobs last month and see a much smaller decline in the unemployment rate. The U.S. added 366,000 jobs in August, according to revised numbers released Friday, after the country added more than 1 million jobs in July before the emergence of the delta variant.
“This is quite a deflating report,” wrote Nick Bunker, research director at Indeed.
“The hope was that August was an anomaly but the fact is, the delta variant was still with us in September. One optimistic interpretation is that COVID-19 case counts are receding, so future months should be stronger. But the reality is that we are still in a pandemic,” he continued.
Not only is employment growth falling “sharply”, but the number of people that left the workforce was 183,000, which is a terrible number.
Below is a small roundup of the media’s reaction to all of this: