Unexpectedly, The Unemployment Rate Spikes Upwards as the Economy Fails To Produce the Million Jobs That "Experts" Predicted, and Instead Produces Only a Catastrophe of 266,000

Maybe this has something to do with people being paid not to work, and now deciding they'd rather keep just sitting at home, not paying rent, and collecting their stimmy checks.

And the pseudoright's embrace of that situation -- shrieking that anyone who said the economy had to be kept open was a brain-dead MAGA Zombie and a Grandma Killer -- is going to end up plunging the US into a depression, and harming the candidate they worked so hard to (fake) elect, Joe Biden.

The U.S. economy added just 266,000 jobs in April and the unemployment rate ticked up to 6.1 percent, the Labor Department said in its monthly labor assessment Friday, smashing expectations.

This was far below expectations. Analysts surveyed by Econoday had predicted Friday’s report would show between 755,000 and 1.25 million workers added to payrolls in April. The median forecast was for 938,000 and an unemployment rate of 5.8 percent.

The disappointing number for April could be a sign that hiring is being held back by enhanced unemployment benefits and schools that have not reopened full time, requiring some parents to stay home to take care of children. Many businesses say that they cannot hire enough workers to fill positions because of the government’s enhanced unemployment benefits program.

The economy has outperformed expectations on many metrics this year as vaccinations have boosted business and consumer confidence and restrictions on businesses have been lifted. Friday’s employment numbers represent a rare miss.

People like Philip Klein and the various liberal corporate cvcks at National Review are now bemoaning the fact that, after having been enrolled, mostly against their will, in a federal welfare program for 18 months, people have gotten used to being "institutionalized" on welfare (and to a kind of at-home prison system) and now resist returning back to the world.

Well, the idea that you can't give people a taste of welfare or socialism, lest they decide they like sloth more than labor, is a very old conservative notion.

Which the "True Conservatives" who are against making America great again quickly abandoned.

Weird how they so readily abandon longstanding conservative doctrine whenever their leftwing Twitter budz demand that they do.

Also weird how they abandon any semblance of even a conservative inclination if it helps them Get Trump and Teach His Base a Lesson.

You did this, NeverTrump.

And your decrepit rapist savior Joe Biden is going to preside over an economic collapse.

What did you think was going to happen, Genius Brigade?

Or did you not think past "My Twitter pals will emotionally validate me for my covid panic spreading" and "This will really hurt Trump"?

Take a bow. Take another bow, I mean -- let's celebrate all the many successes you've scored the last five years.

Update: In addition to wet-squib job creation, you can also expect... massive inflation.

Green Shoots Part V?

Recovery Summer VIII?

posted by Ace at 12:13 PM

| Access Comments