This is Joe Biden’s America.
The US economy added only 199,000 (nonfarm) jobs in December — well below the 422,000 estimate.
This is the worst jobs report of 2021.
This abysmal jobs report comes just one week after it was revealed a record number of Americans ‘quit’ their jobs in November (or were forced out due to vax mandates).
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Paris Dennard pointed out black unemployment continues to skyrocket under Biden-Harris.
The Dec. #JobsReport report is the worst report of 2021, reinforcing the continued negative economic impact Biden-Harris Admin policies have on Black Americans, especially Black women.
⬆️Overall Black Unemployment INCREASED to 7.1%
⬆️Black Female Unemployment INCREASED to 6.2%
— PARIS (@PARISDENNARD) January 7, 2022
The U.S. economy added far fewer jobs than expected in December just as the nation was grappling with a massive surge in Covid cases, the Labor Department said Friday.
Nonfarm payrolls grew by 199,000, while the unemployment rate fell to 3.9%, according to Bureau of Labor Statistics data. That compared with the Dow Jones estimate of 422,000 for the payrolls number and 4.1% for the unemployment rate.
Job creation was highest in leisure and hospitality, a key recovery sector, which added 53,000. Professional and business services contributed 43,000, while manufacturing added 26,000.
The unemployment rate was a fresh pandemic-era low and near the 50-year low of 3.5% in February 2020. That decline came even though the labor force participation rate was unchanged at 61.9% amid an ongoing labor shortage in the U.S.
CNBC was shocked by “another big miss” in December.
CNBC’s Jim Cramer tried his hardest to spin this abysmal report in a positive light.