The May jobs report was just released, and the numbers collected by the Bureau of Labor Statistics look terrible for the Biden administration.
The report found that the total number of new jobs number fell short of projections, Breitbart reported. Experts predicted the economy would add 671,000 jobs, and the unemployment rate would drop from 6.1% to 5.9%. While the unemployment rate reached projections, the good news ends there.
The report results found that 559,000 new jobs were added, which fell about 100,000 jobs short of expert predictions. What makes this report so damaging for Biden is that this is the second month in a row that the economy has failed to meet expectations.
Biden economy unsound
The performance of the economy under President Biden stands in sharp contrast to the economic performance under former President Trump.
In fact, the recent jobs reports suggest that the Biden economy is fundamentally unsound. Expectations have repeatedly failed despite the trillions of dollars that Democrats have poured into the economy since Biden took office.
Biden has exponentially increased the debt that will burden future generations, and what does he have to show for it? An economy that is sluggish and failing to achieve true fundamental success.
One factor holding the economy back is the generous benefits Democrats have created that some economists believe are keeping people from working. Why get a job when you can sit at home and collect unemployment?
Americans on unemployment are receiving $300 a month from the federal government alongside state unemployment benefits. These benefits outweigh entry-level pay, which is undoubtedly discouraging Americans from returning to the labor force.
More headache for Democrats
Biden is doing exactly what Republicans warned Americans he would do. His administration has pumped trillions into the economy, and yet it is still performing badly. If Trump’s roaring economy couldn’t weather the storm during the COVID pandemic and lockdowns, how will Biden’s do in the face of a crisis?
Biden’s lackluster economic performance is more headache for Democrats staring down the barrel of a gun in the 2022 midterm elections. Without a strong economy to point to, Democrats will be hard-pressed to convince Americans that they deserve to stay in power.
Democrats would never admit it in public, but there is likely a growing tumor of discontent in the Democratic Party as Biden is giving Democrats in the House and Senate nothing to work with.
Americans are certainly beginning to have buyers regret about the Biden administration. The skyrocketing gas prices and rising inflation are the perfect bulletin board items for Republicans hungry to reclaim power.