Thu Sep 9, 2021 AT 10:23 AM EDT
On Labor Day, a local ABC News affiliate in Alabama published the dejected headline “Jobless Americans have few options as benefits expire” with what we could only wish was a tongue-in-cheek photo of a giant, all-caps “NOW HIRING” sign. The post garnered deserved mockery on Twitter, pointing out that businesses desperate to hire workers offer a straightforward option to many jobless Americans.
Meanwhile, even corporate news outlets admitted that August’s jobs report, published Friday, was measly. Unemployment fell by only 0.2 percentage points, and the U.S. economy added a mere 235,000 jobs over the course of the month: small beans in an economy where you can’t drive down Main Street without seeing marquee boards peppered with “apply now” signs. Since June 2020, the labor force participation rate has sat between 61 and 62 percent, meaning a sizeable number of Americans aren’t even looking for work. Read Full Story
Tue Sep 7, 2021 AT 10:23 AM EDT
As cant and emotionalism subside, it is becoming possible to give a clear and fair assessment of the performance of the Biden administration and of the president himself: a total failure.
The shortfall of 500,000 in the expected net new job figures for August shows that stagflation is upon us: Employers are afraid to hire employees as they normally would coming out of the COVID-19 recession because they don’t know if they will be able to afford them. Hourly pay scales are increasing at 7.5%, new car prices at 10%, rental accommodation at 12%, and new homes at 20%, all well ahead of the official rate of inflation, contrary to the smug assurances of Treasury Secretary Janet Yellen and even some Federal Reserve spokespeople, that inflation was a mere bubble. Read Full Story
Fri Sep 3, 2021 AT 10:28 AM EDT
Some Republican members of Congress are pushing back on Biden administration figures of Americans left behind in Afghanistan after the last U.S. troops left the country on Monday, arguing they do not give the full picture of who is stranded under Taliban rule.
President Joe Biden said in an address Tuesday that “about 100 to 200 Americans remain in Afghanistan,” and that 90% (which the White House later corrected in a transcript to 98%) “of Americans in Afghanistan who wanted to leave were able to leave.” Read Full Story