The latest jobs report is dealing another crushing blow to President Joe Biden, as his aides continue scrambling to manage the fallout of the botched withdrawal of U.S. troops from Afghanistan.
The new report from the U.S. Department of Labor shows the number of jobs added to the U.S. economy during the month of August fell far below expectations, according to the Daily Caller.
Breaking down the numbers
Ahead of the August jobs report, economic experts were predicting that about 740,000 jobs would be added to the economy last month, the Daily Caller said. In other words, economists were expecting a slight dropoff from the months of June and July, which saw the creation of 962,000 and 1.1 million jobs, respectively.
August did see a dropoff, but in no way could it be described as “slight.” According to the August jobs report, only 235,000 jobs were added to the U.S. economy during the month.
That’s over 500,000 fewer jobs than predicted.
Earlier in the week, ADP released its National Employment Report, and it, too, failed to live up to expectations. In that instance, experts were predicting to see about 600,000 jobs added in the private sector during the month of August.
Instead, only 374,000 were added, the Daily Caller noted.
“Leveling the playing field”
On Friday, Biden did his best to spin the latest jobs report. “While I know some wanted to see a larger number today and so did I, what we’ve seen this year is continued growth month after month,” the president said, according to Breitbart.
Biden placed much of the blame for the low numbers on recent surges in cases of COVID-19. He also vowed that looking forward, he would be raising taxes on the wealthy and on corporations, ostensibly to pay for various social welfare proposals put forth by Democrats.
“We’re going to do it by leveling the playing field,” Biden said, adding that corporations and wealthy Americans “can afford to pay just a little bit more.”
Despite the poor August numbers, the U.S. economy has managed to add 4.3 million jobs since January, the Daily Caller reports, as the country continues to recover from business closures brought on by the coronavirus pandemic.
Still, the U.S. remains about 5.5 million jobs short of pre-pandemic numbers, the Daily Caller said.