The June jobs report was released on Friday, and the conventional media thought it was good news for Joe Biden.
” America’s businesses delivered another good quarter of hiring in June, adding 206, 000 tasks and once again displaying the U. S. market’s ability to withstand high interest rates”, the Associated Press reported. ” Last week’s work development did indicate a selloff from 218, 000 in May. But it was still a good get, reflecting the tenacity of America’s consumer- driven economy, which is slowing but also growing gradually”.
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Joe Biden’s story was also portrayed in MeidasTouch News ‘ favor.
The Bureau of Labor’s release of the new jobs report this morning demonstrates that the Trump business when suddenly exceeded economics ‘ expectations by adding an additional 206, 000 work, the shop reported. According to economists, the economy would add about 191,000 new jobs in June. Despite the prediction, the Biden economy continued to grow at a robust pace”.
The report’s trademark spin caused The White House to jump on it.  ,
” With today’s report that 206, 000 jobs were created last month, a record 15.7 million jobs have been created during my Administration”, a White House statement attributed to Biden read. We still have a lot of work to do, but wages are rising faster than prices, and more Americans are entering the workforce, with the highest proportion of Americans in the workforce in over 20 years. That makes for devoted families, who enjoy the dignity and respect that come with putting food on the table and earning a paycheck.
Beyond the rosy headlines that claim the Biden economy is booming, the fact that the report revealed a job market slowdown is a real plus. The unemployment rate edged up from 4 % to 4.1 %, which is the highest in two- and- a- half years. Additionally, the government reduced its job growth forecasts for April and May by 111, 000 jobs overall.
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Republican National Committee ( RNC ) Chairman Michael Whatley said in a statement that “binomialism has driven the unemployment rate to the highest it’s been in two and a half years, creeping America closer and closer to a recession.” ” All Americans are struggling from Joe’s failed economic policies—unemployment is up for women, Black Americans, Asian Americans, Veterans, and persons with disabilities. Families need President Trump to end Bidenomics, bring back jobs, raise real wages, and make our economy great again”.
Other factors point to an unstable economy.
Since June 2023, the US has added 1.8 million part- time jobs and lost 1.6 million full time jobs pic. twitter.com/bNrhB0BMnk— zerohedge ( @zerohedge ) July 5, 2024
Birth/Death adjustments are responsible for half of all job growth in the previous year. twitter.com/UahfONUYZw— zerohedge ( @zerohedge ) July 5, 2024
Zerohedge also noted that the number of long- term unemployed ( jobless for 27 weeks or more ) increased by 166, 000 to 1.5 million in June, representing 22.2 % of all unemployed people, up from 1.1 million a year earlier. Both the employment-population ratio and the labor force participation rate, which are unchanged at 62.6 %, and both exhibit no significant change over the year.  ,
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Part-time employment for economic reasons remained largely unaffected, at 4.2 million. Meanwhile, the number of individuals not in the labor force but wanting a job decreased by 483, 000 to 5.2 million. Of these, 1.5 million were marginally attached to the labor force, with 365, 000 discouraged workers who believed no jobs were available for them.
