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The August jobs report has been release, and this like many others will probably be later revised downward, but the Biden White House along with the Kamala Harris campaign will likely take the "any port in a storm" approach and claim it as evidence their policies have had a positive impact on the U.S. economy.
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From Leah Barkoukis at Townhall:
Fewer jobs were added to the U.S. economy in August than expected, according to data from the Bureau of Labor Statistics released Friday.
The U.S. added 142,000 nonfarm payroll jobs last month, short of the 165,000 economists predicted, and the unemployment rate fell to 4.2 percent from 4.3 percent.
There were also revisions for June and July.
Biden, Harris and the rest of the Democrats will not be highlighting this part of the August jobs report:
Two stats are everything you need to know about the August jobs report:
Jobs for native born Americans over the last year: -1.3 million
Jobs for foreign-born workers over the last year: +2 millionFull time jobs: -438,000
— Greg Price (@greg_price11) September 6, 2024
Part times jobs: +527,000
"Bidenomics," baby!
This is probably the most telling part of the report.
— Frog Capital (@FrogNews) September 6, 2024
We lost 438k full-time jobs.
50bps still on the table. pic.twitter.com/2tiqyW60X5
Jobs report is fantastic, unless you were born in the United States. https://t.co/RB7nWkQZFn
— Carmine Sabia (@CarmineSabia) September 6, 2024
Take a good long look at these numbers. Let it soak in.
Vote accordingly. https://t.co/2E2lTst8AH
— Spitfire (@DogRightGirl) September 6, 2024
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Fox Business' Charles Payne also awaits the inevitable downward revision:
The usual suspects are saying he August jobs number was good because it rebounded from July disaster.
— Charles V Payne (@cvpayne) September 6, 2024
A) three month average 116,000 from 197,000
B) great chance August number will be revised much lower. pic.twitter.com/gkZPAQHJRg
The Dems and media will nevertheless do their best to spin this with the election just around the corner.
So the jobs report not only fell short of what analysts expected but also there was a significant revision downward to previous months pic.twitter.com/9NKs4q6CIy
— Sunny (@sunnyright) September 6, 2024
Meanwhile, the Harris campaign's pitch is that Kamala will fix all that's gone wrong during her nearly four years of backing Biden's economic and border policies.
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