Article Originally Posted on RedState.com
Sourced from: https://redstate.com/nick-arama/2022/08/05/charles-payne-points-out-problem-in-jobs-report-peter-doocy-drives-it-home-to-wh-n607615
The Biden team is trumpeting the new jobs report that came out on Friday indicating that there were 528,000 new jobs, which was far more than expected.
Today’s jobs report shows that the economy added 528,000 jobs in July.
More people are working than at any point in American history. That’s no accident, it’s results.
— President Biden (@POTUS) August 5, 2022
Except not so much, as Fox’s Charles Payne indicates. You can see here from the chart how the labor force participation is continuing to go down from May. So what does this all mean? Payne notes that full-time jobs are down by 71,000. What’s up are part-time jobs by 384,000 and people holding multiple jobs, up by 92,000.
Household Survey
Full Time -71,000
Part Time +384,000
Multiple Jobs +92,000 https://t.co/8pojYW5SrN— Charles V Payne (@cvpayne) August 5, 2022
— Dr. Nickarama (@nickaramaOG) August 5, 2022
So what does that mean? Labor participation is still lower than it was before the pandemic. It likely means things like retired people having to take a part-time job and other people having to take a second job to keep up with the rising prices in the crush of Bidenflation. If you’ve looked around when you’ve gone out, you may see some evidence of this — retired-age people working jobs that you might generally see teenagers working to supplement Social Security. That’s not exactly a sign of a healthy economy, no matter how the Biden people want to slice it.
The number of people holding two full-time jobs is also at a record high. That’s also not a good thing.
433,000 Americans now working 2 full time jobs.
That is an all time high. pic.twitter.com/IBoEORQHky— Frog Capital (@FrogNews) August 5, 2022
Payne noted how things were not going well for black Americans.
You have to ask @PressSec while you are at it ask why Black Americans are sinking in the midst of the jobs boom?
July
-39,000 out labor force
-68,000 fewer employedI get this stuff is only newsworthy when GOP in WH but some care all the time. Thanks https://t.co/XRBcbx7hO5
— Charles V Payne (@cvpayne) August 5, 2022
Fox’s Peter Doocy followed up on that labor participation point with White House Press Secretary Karine Jean-Pierre. First, she didn’t seem to understand what he was saying. Then she tried some world-class spin away from the real number to suggest that the number had gone up. Just ignore the reality that it went down.
DOOCY TIME: “Why do you think people are continuing to drop out of the labor market?”
KJP: “Say that one more time? Can you say more?”
Doocy: “The labor force participation rate is at its lowest level of the year now. Why do you think that is?” pic.twitter.com/SbyijABVL6
— Curtis Houck (@CurtisHouck) August 5, 2022
KJP: “So, participation actually ticked up and for–for–”
Doocy: “It declined 0.1 percentage points to 62.1%, the lowest level of the year.”
KJP: “So, it actually ticked up for prime-age workers…The tick down this month was actually about teenagers.” pic.twitter.com/GX9mfZmmbD
— Curtis Houck (@CurtisHouck) August 5, 2022
The bottom line also is that inflation is outpacing any real wage gains. So even if you were getting paid more, you have less purchasing power because of Bidenflation. So it’s effectively working like a pay cut.
We are in the Biden real wages recession. pic.twitter.com/qsV1XQDfWy
— RNC Research (@RNCResearch) August 5, 2022
So, while the Biden team is going to pitch the news as good, there are troubling signs in this report of the continuing problems.
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