Illegitimate Joe’s banana republic sugar high melted this morning, as jobs created in April came in at 266k, well short of the almost 1 million forecast as the pandemic allegedly eases under mass vaccination.
A funny thing happened…apparently if you pay people to sit home the economy doesn’t grow, jobs are not created.
People want jobs. Women want jobs. Blacks want jobs. Hispanics want jobs. Youth want jobs. Minorities want jobs.
The people are not getting jobs. They’re getting a measly check from their Dark Lord Farquaad, who sits in The White House as a usurper of a legitimate mandate. Nothing more than a thief.
Biden is destroying the Trump economic miracle. OBiden is going back to ‘what are you going to do, wave a magic want to get all those jobs back?’ It seems OBiden wants to wave a magic wand to send all those jobs back overseas where they came from.
The truth is OBiden won’t be able to buy votes after all with his printed trillions of dollars.
But if your goal is the economic destruction of the republic, then maybe it just doesn’t matter to the Dark Lord.
However, I can guaranteed you it matter to Shrek and the Deplorables.
Expect more QE, or what they call it in Argentina — printing money
To summarize: there was not nearly enough jobs as employers can’t find workers who opt for government stimulus instead; and the poor jobs number ensures that even more stimulus will be handed out, ad inf, reported Zero Hedge.
A Red tsunami is coming.
Non-farm Payrolls (Apr) printed at 266k vs 978k consensus estimate.
Average Hourly Earnings (YoY) (Apr) printed at 0.3% vs -0.4% estimate.
Average Weekly Hours (Apr) printed at 35 vs 34.9 estimate.
Labor Force Participation Rate (Apr) printed at 61.7%.
Average Hourly Earnings (MoM) (Apr) printed at 0.7% vs 0 estimate.
U6 Underemployment Rate (Apr) printed at 10.4%.
Unemployment Rate (Apr) printed at 6.1% vs 5.8% estimate.