U.S. Job Growth in August

U.S. job growth in August was weaker than expected, with the economy adding 142,000 jobs, lower than the forecast of 160,000. Prior months' job growth was also revised down. Unemployment rate dipped to 4.2% from 4.3% in July. Average hourly earnings increased by 0.4% to $35.21, with a 3.8% increase over the past year.

U.S. Economy and Labor Market

The U.S. economy created 818,000 fewer jobs than originally reported in the 12-month period through March 2024, indicating a weaker labor market and potential interest rate cuts by the Federal Reserve.

U.S. Jobs Market Revision

Revised government data shows that the U.S. economy added 818,000 fewer jobs than previously estimated from spring 2023 to spring 2024, indicating the labor market was not as strong as believed. The revision undercuts claims by Kamala Harris about the strength of the job market.

Weekly Unemployment Claims in the U.S.

The number of Americans filing for unemployment benefits fell more than expected last week, indicating layoffs are not surging. Stocks reacted positively to the news, despite recent pressure. Continuing claims rose slightly. This is the largest number of people on unemployment since November 2021.

Public Opinion on Biden/Harris Administration's Economy

A CBS News/YouGov poll found that 63% of voters believe the Biden/Harris administration's economy is going badly, with only 35% saying it's going well. The poll also highlighted skepticism towards the administration's economic policies, with rising prices and job growth concerns.

Economic Forecast and Federal Reserve Policy

Goldman Sachs economists raised the likelihood of a U.S. recession within 12 months to 25% but still view the risk as limited. They foresee job growth improving, prompting the Federal Reserve to cut interest rates.

Impact of Biden-Harris Administration on American Economy

The American economy under President Joe Biden and Vice President Kamala Harris's leadership has been favoring foreign-born workers over native-born Americans, with job growth primarily benefiting newly arrived migrants.

Job Growth and Economy under Biden-Harris Administration

Heritage Foundation economist EJ Antoni shared data showing that most job growth under the Biden-Harris administration went to foreign-born workers, with native-born Americans losing 1.2 million jobs. Antoni also highlighted the shift to part-time employment, government-funded jobs, and the artificially low unemployment rate due to workers not actively seeking jobs since the pandemic.

U.S. Job Market Report for July 2024

Job growth in the U.S. slowed in July, with nonfarm payrolls increasing by just 114,000, below expectations. Unemployment rate rose to 4.3%, and average hourly earnings were below forecasts. This has led to concerns of an economic slowdown.

Manufacturing Slump Despite Kamala Harris's Claims

Despite Kamala Harris's claims of a manufacturing boom, the sector is actually in a serious slump, with the ISM reporting contraction for four straight months. The S&P Global PMI also recorded a deterioration in business conditions, with new orders declining and hiring slowing. Although the Biden-Harris administration's subsidies and tax breaks have led to increased construction spending, job growth has been primarily in construction, not in manufacturing.

U.S. Economy and Job Market

Kamala Harris is facing challenges in selling the idea of a strong U.S. economy as job growth slows, particularly in manufacturing and professional services sectors. Wage growth is also declining, aligning with efforts to curb inflation. The Federal Reserve is expected to cut interest rates soon.

President Biden's Interview and Polling Data

President Biden made some exaggerated and misleading statements in a recent ABC News interview regarding U.S. share of global semiconductor production and Trump's comments on injecting bleach. Polls show Trump gaining in popularity against Biden. Job growth under Trump was impacted by the COVID-19 pandemic, with a net loss of jobs by the end of his term.

H-2B Foreign Visa Workers in the U.S.

Republicans and Democrats on the House Appropriations Committee are working together to increase the number of H-2B foreign visa workers allowed in the U.S. for blue-collar jobs, despite concerns about abuse and exploitation in the program. The move comes as data shows most job growth under President Biden has gone to migrants rather than native-born Americans.

Unemployment Benefits and Job Market

The number of people applying for unemployment benefits increased to 229,000, higher than expected. Jobless claims can be volatile week to week, but the four-week average fell. Continuing claims rose slightly. Employers added 175,000 workers in April, the lowest level of job growth since October. Unemployment rate ticked up to 3.9 percent.

Immigration and Work Permits in the United States

More than 40 mayors and county officials in the United States are urging President Joe Biden to expedite work permits for millions of migrants released into the country, stating that it would be a positive step forward to provide legal authorization for work to long-term undocumented immigrants and recent arrivals. The request comes as recent waves of mass immigration have led to most job growth under Biden going to newly arrived migrants, while native-born Americans experience stagnant job growth.

Job Growth Slowed in April

Job growth slowed more than expected in April, leading to market speculation of rate cuts. Despite the slowdown, the number of jobs added was not weak. The unemployment rate ticked up slightly, but the rise was minimal. The private sector added a healthy number of jobs, while government hiring decreased. Health care and social assistance sectors saw positive growth. The market reaction to the report may be overdone, as it is not likely to push the Fed into immediate rate cuts.

U.S. Employment Data for April

In April, U.S. employers added 175,000 workers to payrolls, with the unemployment rate rising to 3.9%. The weaker-than-expected figure may lead to hopes for rate cuts. Wage gains moderated, and the goods-producing and services sectors saw changes in employment. The Federal Reserve's rate cut projections have fluctuated based on economic data.

Inflationary Economy in the U.S.

The U.S. is experiencing an inflationary economy, leading to the possibility of the Federal Reserve increasing interest rates. Job growth and compensation costs are rising, challenging the notion of a 'soft landing' for inflation. There are concerns about the Fed's ability to cut rates this year due to accelerating inflation.

Political Speech Comparisons

President Joe Biden visited Pennsylvania while former President Donald Trump was in court. Biden made misleading claims about Trump's statements on COVID-19 and the economy. He also inaccurately stated the impact of the Inflation Reduction Act on Medicare. Biden also made false claims about the tax rate of billionaires and Trump's stance on Social Security and Medicare. New CDC guidance advises longer isolation for COVID-19.

Fact-Checking Claims of 2024 Presidential Nominees

Fact-checking the claims of the presumptive Democratic and Republican presidential nominees for the 2024 election. Trump falsely claims the 2020 election was rigged, while Biden misleadingly takes credit for reducing the federal budget deficit. Trump makes unsupported claims about criminals being sent to the US, while Biden exaggerates job growth. Trump falsely states the US was energy independent under his leadership. Biden misrepresents Trump's stance on Medicare and Social Security. Both candidates make dubious claims about abortion policies and billionaire taxes. Trump inaccurately boasts about the economy during his term, while Biden defends the Affordable Care Act. CDC guidance recommends isolation for COVID-19.

Employment Growth and Political Speculation

Fox Business host Maria Bartiromo speculates whether employers are anticipating a new president in November as the reason for booming employment growth under Joe Biden's administration. Despite the positive job numbers, she attempts to put a negative spin on the news.

Critique of President Biden's Job Growth Numbers by Fox News Host Laura Ingraham

Fox News host Laura Ingraham criticizes President Biden's job growth numbers, suggesting they are fueled by foreign-born workers and not benefiting Americans, while also highlighting the lack of manufacturing job growth and increase in government workers.

Comparison of U.S. Economic Performance to Other Developed Economies

President Joe Biden is fighting to convince voters that the U.S. economy is healthy amidst differing narratives from former President Donald Trump. Economic indicators show strong performance in the U.S. compared to other developed economies, with factors including stimulus measures, job growth, and unique debt structures contributing to the country's resilience.

U.S. Economy and Job Growth

The U.S. economy added 303,000 jobs in March, showing positive growth.

Impact of Higher Corporate Taxes on Hiring

Heather Boushey from the White House Council of Economic Advisers supports higher corporate taxes pushed by President Joe Biden to ensure the federal government has the resources it needs. She emphasizes the importance of enforcing tax laws and investing in industries crucial for American competitiveness and job growth.

U.S. Employment Situation in February 2024

In February, U.S. employers added 275,000 workers to their payrolls, causing the unemployment rate to increase slightly to 3.9%. Economists had forecasted lower job growth and a stable unemployment rate. The economy has continued to grow and add jobs, leading to speculation about Federal Reserve rate cuts.

President Joe Biden's State of the Union Address and Economic Record

President Joe Biden faces challenges in his re-election bid, particularly with concerns about his age, the southern border, the Israel-Hamas war, and the economy. Despite a strong economic record, public approval remains low. Biden needs to focus on addressing these issues in his State of the Union address.