Joe and Kamala’s economy is really stalling out right before the election, with the new jobs report showing a severe decline in jobs and significant downward revisions for previous months.
Job growth only grew 12,000 jobs in October, which was expected to grow by over a hundred thousand more jobs.
Here’s more from Fox Business:
U.S. job growth slowed down in October, coming in well short of economists’ expectations, while the unemployment rate was unchanged.
The Labor Department on Friday reported that employers added 12,000 jobs in October, well below the 113,000 gain that was predicted by LSEG economists.
The unemployment rate was 4.1%, in line with expectations.
The number of jobs added in the prior two months were both revised downward, with job creation in August revised down by 81,000 from a gain of 159,000 to 78,000, while September was revised down by 31,000 from a gain of 254,000 to 223,000.
Ok let’s go back a few months.
June was initially reported with a job growth of 206,000 and was later slashed TWICE to end up at 118,000.
July was initially reported with a job growth of 114,000 and was later slashed to 89,000.
August was initially reported with a job growth of 159,000 and was just slashed to 78,000.
September was initially reported with a job growth of 254,000 and was just slashed to 223,000. If current trends follow, this number will be slashed again when the next jobs report comes out and it will be much more significant.
And now October gets a paltry 12,000 jobs in today’s report. How much will they slash this number next month because it doesn’t really have much farther to fall.