Charles Payne: Jobs report not what it seems
Economic analyst Charles Payne is warning that the jobs report that the government released early Friday doesn’t say exactly what Joe Biden apparently wants it to say.
That’s because of the “new jobs” created, 384,000 of them are part-time.
The Department of Labor said there were 528,000 new jobs created in June, sending the White House, including Biden and Kamala Harris, onto social media to boast of their accomplishments.
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
Biden, boasting about the report, claimed, “More people are working than at any point in American history. That’s no accident. It’s results.”
And Harris claimed the Democrats are making “significant progress.”
This morning’s jobs report shows our economy added 528,000 jobs in July, and the unemployment rate matches the lowest it’s been in more than 50 years. More people are working than ever before. We have more to do, but today’s jobs report shows we are making significant progress.
— Vice President Kamala Harris (@VP) August 5, 2022
Reality, however, came from a commentary at Twitchy, which said, “Fox Business Network’s Charles Payne broke down the ‘528,000 jobs added in July’ and let’s just say this particular perspective will not earn a Ron Klain retweet.”
Full Time -71,000
Part Time +384,000
Multiple Jobs +92,000 https://t.co/8pojYW5SrN
— Charles V Payne (@cvpayne) August 5, 2022
He wrote, “Household Survey Full Time -71,000 part-time +384,000 multiple jobs +92,000.”
It cited data from Robert Luther who had pointed out the Biden coalition “added” 528,000 jobs but the U.S. had 136,000 fewer employed.
Twitchy wondered, “How many of those added jobs were people taking on extra work to keep up with gas and inflation.”
Because of Biden’s policies, gasoline in America has surged well past the $5 a gallon mark, about double what it was when he took office. The prices have declined somewhat in recent weeks, but it still remains at highs not seen before.
On top of that, Americans are facing inflation of 9.1%, costing the average family thousands of dollars a year more to have the same lifestyle of just last year.
One social media commenter gave a verdict on the Biden boasting: “Smoke and mirrors, baby. Smoke and mirrors.”
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