(DailyEmailNews.com) – Exposing the failures of Jor Biden and Kamala Harris’ economic policies, the October jobs report reveals the worst downturn in the U.S. economy in years.
The Labor Department’s latest report paints a grim picture of the job market as employers added a mere 12,000 jobs in October.
The report falls drastically short of the 113,000 jobs economists forecast and shoots down the Biden-Harris administration’s claims of a robust economy.
While the unemployment rate remained steady at 4.1%, this figure masks the true extent of the economic downturn.
The private sector, which is the backbone of American industry, actually lost 28,000 jobs, a clear sign that businesses are struggling under the weight of inflation and excessive regulation.
Once a symbol of American strength and ingenuity, the manufacturing sector took a particularly hard hit, cutting 46,000 jobs.
This devastating loss can be largely blamed on ongoing strikes in the transportation equipment industry due to union demands.
Despite Bernstein’s attempt to downplay the report’s significance, the numbers speak for themselves.
Adding insult to injury, the Labor Department has revised previous months’ data downward, removing 112,000 jobs from earlier estimates.
This revelation suggests that the job market has been weaker than previously understood, further destroying confidence in the administration’s economic direction.
While the Biden-Harris team scrambles to blame temporary disruptions like hurricanes for the weak numbers, the report reflects deeper, systemic issues with their economic approach.
The decrease in labor force participation among prime working-age individuals is a troubling sign that Americans are losing faith in the job market.
“The big one-off shocks that struck the economy in October make it impossible to know whether the job market was changing direction in the month,” said Comerica Bank chief economist Bill Adams.
“But the downward revisions to job growth through September show it was cooling before these shocks struck,” he added.
With Election Day around the corner, this jobs report reminds Americans of the choices they face.
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