So that Friday Jobs report…
JUST IN: The U.S. economy added 266,000 jobs in April, far below the Wall Street consensus of 978,000; unemployment rate 6.1% – Reuters
— Breaking911 (@Breaking911) May 7, 2021
When you have financial people on CNBC needing to double check numbers, you know it’s bad.
— Mike Berg (@MikeKBerg) May 7, 2021
Instead of recognizing this as a failure of policy and pivoting, the Biden administration is instead doubling down on more spending for unemployment, so you don’t have to worry about ever having to go back to work. Isn’t that great?!
The White House believes today's job reports illustrates the importance of providing robust unemployment support with millions of Americans still out of work, a senior administration official says
— Jeff Stein (@JStein_WaPo) May 7, 2021
The U.S. Chamber of Commerce, who frankly are getting what they paid for (they gave huge contributions to the Biden for President campaign), had the nerve to weigh in:
US Chamber of Commerce disagrees unsurprisingly! https://t.co/YOi3DVKeoe
— Jeff Stein (@JStein_WaPo) May 7, 2021
A number as high as 6.1 percent means more people filed for unemployment than looked for work, even though there is plenty of work to be had.
I work with small businesses. We’re open for biz since June. They can’t get people to work although they offer well above minimum wage. Many have had to reduce hours b/c of lack of staff. Now small biz is suffering b/c of perceived poor svc. Fed Govt is destroying small biz.
— Jen O'Brien (@JenOBrien2) May 7, 2021
What does that mean for an economy? Where are Biden’s economics gurus? U.S. Treasury Secretary Janet Yellin? Is she too busy collecting on questionable investments and outlawing plebe day traders?
That was obvious from the day the economic team was announced. Put people in place that have never had to make a payroll, and this is expected.
— Joseph Self (@Joeyself) May 7, 2021
Back in December of 2020, when Biden introduced his economics team, he said:
“ground-breaking Americans who come from different backgrounds, but share my core vision for economic relief.”
“A first-rate team that’s going to get us through this ongoing economic crisis and help us build the economy back, not just build it back, but build it back better than before,” he said.
Groundbreaking and diverse are great for a stock portfolio, not so great for the American economy. These people look good at a press conference, but are actually helping no one but themselves. Those bright, shiny objects will get you every time.
Live look at the Biden administration gathering to get their talking points together about how today's disastrous jobs report proves their point about "needing" trillions in more COVID "relief." 🤡🤡 pic.twitter.com/imEK1jgBmh
— Sister Toldjah 😁 (@sistertoldjah) May 7, 2021
This is not building anything back; it’s the slippery slope of an economic depression. What’s more, it’s a deliberate effort to tank the economy’s engine: small businesses and entrepreneurs. The U.S. Department of Labor Secretary actively attacking independent professionals, freelancers, and entrepreneurs is further confirmation that the Biden administration wants you dependent on government, not on your ingenuity and your ability to earn, grow, and build an enterprise.
And the American people are not ignorant to the fact.
How is this surprising to anybody? The government is paying people to not work. What did they expect to happen?
— Eric Bott (@BottAFP) May 7, 2021
Leading the way to redefining work, and creating Green Jobs… oh, wait…
Where are all of those Solar Panel jobs?
— Rob Rocha (@RobRocha3) May 7, 2021
We are seeing in real-time the groundwork for a Universal Basic Income.
If the white house actually believes this, we are fucked.
— Flurypd (@FluryPD) May 7, 2021
Worst take of the day @CNBC
" There's a labor shortage & labor demand shortage."
Neither is true, there's plenty of labor & demand, there's a people willing to work shortage
— david spratt (@Oil_vampire) May 7, 2021
Chef Andrew Gruel can attest to this. Gruel is a successful restauranteur who not only kept his businesses alive during the pandemic, but raised money to help other restaurants stay afloat; so he knows a bit about hiring, economics, and how to stimulate job growth. But when people don’t want the jobs presented for whatever reason, then there’s not much that can be done.
Fake Twitter is mad because I spoke the truth about the economy in SoCal and the lack of labor. We paid 16-20 for dish cooks months ago and now we have had to increase to $20-25 (not at all locations). The minimum wage may be $30 soon anyways.
— Chef Andrew Gruel (@ChefGruel) May 1, 2021
Ding. Ding. Ding. What exactly is, “a living wage”? How many businesses are going to be able to pay the government’s idea of a living wage and still survive? Even if they did, would it incentivize people to go to work?
Very true! I’m a Human Resource/Recruiter in Northern California. People don’t want to work.
— sunshinegirl (@sunshinesedg10) April 30, 2021
Doubtful. We have raised a generation who thinks money, commerce, and building toward financial success so you can assist the economy and help others be successful is, well, just evil!
Capitalists are crying about workers not wanting to wash dishes at their shitty restaurants for poverty wages.
— MEANS TV (@means_tv) May 6, 2021
Chef Andrew Gruel is the consummate troll, though, so he had the last say on this:
— Chef Andrew Gruel (@ChefGruel) May 6, 2021
Bottom line: Capitalism works when you allow it to. Incentivizing people not to work? Biggest killer of capitalism.
It’s capitalism that makes his show and twitter possible. Is it a perfect system? No. But it’s it’s the best there is to incentivize innovation and creativity. When you make a profit you can hire more people and open more restaurants and provide more opportunities for more people
— Jon Gordon (@JonGordon11) May 6, 2021
What type of incentivization do we need as a nation? Will we continue to have freedom of opportunity, or will be forced into the ghettoization of economic limitation and slavery? Pretty obvious where the Biden administration and his economic dream team have their sights set.
This will not turn out well.