Bidenomics Continues To Fail The American People As October’s Job Report Falls Well Short of Expectations
November 3, 2023
The U.S. economy added a measly 150,000 jobs in October, falling well short of
economists' expectations. This report is just the latest sign that Bidenomics is failing the American people, as the Consumer Price Index (CPI), a key inflation index in September, also came in well above economists' expectations.
According to the
October Bureau of Labor Statistics report, the Manufacturing sector lost 35,000 jobs, while the labor force participation rates decreased for African American men 20 years and over, Asian Americans, and Hispanic Americans.
BIDENOMICS BY THE NUMBERS:
Total nonfarm payroll employment increased by
150,000 in October, falling well short of the 189,000 economists expected.
Labor Force Participation Rates decreased for the following demographics:
The total population
Men, 16 years and over
Men, 20 years and over
White men, 20 years and over
White women, 20 years and over
Black of African American men, 20 years and over
Black of African American teenagers
Hispanic or Latino Americans
Hispanic or Latino American men, 20 years and over
Hispanic or Latino American women, 20 years and over
Eight of the last nine jobs reports have been revised lower. Consistent downward revisions are never a good sign for the future of the economy.
Inflation is a tax on ALL Americans.
When Joe Biden took office, inflation was at just 1.4%.
Prices have risen by
17.1% since Biden took office. Americans are paying more for just about everything because of inflation.
Americans’ real average hourly earnings decreased
0.2% from August to September. Under Joe Biden’s failed economic agenda, Americans are spending
$709 more per month to buy the exact same goods and services than they did just two years ago. Credit card, auto loan, and consumer loan delinquencies are at their
highest levels since the Great Recession.
For more current economic information, courtesy of the Joint Economic Committee Republicans, click