Saturday, May 15, 2021 12:45:32 PM
Biden’s “Economic Adviser” Blames Awful Jobs Report on Easter Being In March; Easter Was On April 4
On Friday, President Joe Biden’s economic advisor Cecilia Rouse blamed the awful April jobs report on Easter being in March.
One problem: Easter was on April 4.
The April jobs report was a massive letdown to say the least and the Biden Administration is scrambling to come up with an excuse for their massive failures.
“Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers,” reported CNBC when the jobs report was released.
Instead of owning up to their shortfalls, the Biden Administration is blaming Easter.
“It was also, um, it was, um, you know, getting into the details, um, it was, I think Easter happened in March this year,” Rouse explained during a press conference. “The seasonal adjustments are a little funny.”
WATCH the clip below:
The jobs report for April was so bad that CNBC thought the report was a typo when they first reported on it.
“Wow it just came across. We have the number here. Just came across. Sorry about that it came across very quickly here. It looks like 266,000. It looks like it was a big disappointment at 266. But maybe I have that wrong. Let me double check the bureau website,” a CNBC host said as the jobs report came through.
WATCH the clip below:
https://trendingpolitics.com/bidens-economic-adviser-blames-awful-jobs-report-on-easter-being-in-march-easter-was-on-april-4-crugg/
An expected U.S. hiring boom crashed into a wall in April, with employers adding a measly 266,000 new jobs – sharply missing Wall Street’s expectations – amid a growing shortage of available workers.
The unemployment rate unexpectedly rose to 6.1% — while it’s still well below the April 2020 peak of 14.7%, it’s about twice the pre-crisis level, the Labor Department said in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.
The figure marks a significant drop from March’s downwardly revised number of 770,000 and February’s upwardly revised 536,000.
There are still 8.2 million fewer jobs than there were last February, before the crisis began.
Although the accelerated vaccine rate, trillions in government stimulus and easing business restrictions seemed to be coming together to support a robust economic recovery, businesses have reported difficulty in onboarding new workers.
A recent Bank of America analyst note estimated that 4.6 million workers exited the labor force during the pandemic – and only half are expected to rejoin by the end of the year.
Companies have been quick to blame the sweetened unemployment benefits provided to workers during the pandemic; the $1.9 trillion stimulus package that President Biden signed into law in March boosted unemployment aid by $300 a week through Sept 6, 2021 and included a third $1,400 payment for millions of Americans.
Americans who earned less than $32,000 before the crisis began would be better of in the near-term collecting those benefits rather than working, Bank of America said.
https://trendingpolitics.com/bidens-economic-adviser-blames-awful-jobs-report-on-easter-being-in-march-easter-was-on-april-4-crugg/
On Friday, President Joe Biden’s economic advisor Cecilia Rouse blamed the awful April jobs report on Easter being in March.
One problem: Easter was on April 4.
The April jobs report was a massive letdown to say the least and the Biden Administration is scrambling to come up with an excuse for their massive failures.
“Hiring was a huge letdown in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers,” reported CNBC when the jobs report was released.
Instead of owning up to their shortfalls, the Biden Administration is blaming Easter.
“It was also, um, it was, um, you know, getting into the details, um, it was, I think Easter happened in March this year,” Rouse explained during a press conference. “The seasonal adjustments are a little funny.”
WATCH the clip below:
White House economic adviser Cecilia Rouse blames the bad April jobs report on Easter being in March this year…
— RNC Research (@RNCResearch) May 14, 2021
Easter was on April 4 pic.twitter.com/Sf65yKGboP
The jobs report for April was so bad that CNBC thought the report was a typo when they first reported on it.
“Wow it just came across. We have the number here. Just came across. Sorry about that it came across very quickly here. It looks like 266,000. It looks like it was a big disappointment at 266. But maybe I have that wrong. Let me double check the bureau website,” a CNBC host said as the jobs report came through.
WATCH the clip below:
https://trendingpolitics.com/bidens-economic-adviser-blames-awful-jobs-report-on-easter-being-in-march-easter-was-on-april-4-crugg/
An expected U.S. hiring boom crashed into a wall in April, with employers adding a measly 266,000 new jobs – sharply missing Wall Street’s expectations – amid a growing shortage of available workers.
The unemployment rate unexpectedly rose to 6.1% — while it’s still well below the April 2020 peak of 14.7%, it’s about twice the pre-crisis level, the Labor Department said in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.
The figure marks a significant drop from March’s downwardly revised number of 770,000 and February’s upwardly revised 536,000.
There are still 8.2 million fewer jobs than there were last February, before the crisis began.
Although the accelerated vaccine rate, trillions in government stimulus and easing business restrictions seemed to be coming together to support a robust economic recovery, businesses have reported difficulty in onboarding new workers.
A recent Bank of America analyst note estimated that 4.6 million workers exited the labor force during the pandemic – and only half are expected to rejoin by the end of the year.
Companies have been quick to blame the sweetened unemployment benefits provided to workers during the pandemic; the $1.9 trillion stimulus package that President Biden signed into law in March boosted unemployment aid by $300 a week through Sept 6, 2021 and included a third $1,400 payment for millions of Americans.
Americans who earned less than $32,000 before the crisis began would be better of in the near-term collecting those benefits rather than working, Bank of America said.
https://trendingpolitics.com/bidens-economic-adviser-blames-awful-jobs-report-on-easter-being-in-march-easter-was-on-april-4-crugg/
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