Yeah, except facts and truth contradict the filthy maga traitor cunts. Like always. Dumb fuck

The May jobs and unemployment report is out today, and it shows a continuing strong economy. The Biden Administration’s robust and durable track record on jobs and unemployment is breaking records, putting up some of the best results we’ve seen in half a century.

First, the numbers. The federal Bureau of Labor Statistics (BLS) reports that May saw an additional 272,000 jobs created, above most forecasters’ expectations. Unemployment ticked up from 3.9% to 4%, although such slight single-month changes are statistically meaningless (if the rate rises for several months in a row, then you have a trend.)

These are very strong numbers, especially this far into an economic recovery. The White House took a justified victory lap, with President Biden noting “unemployment has been at or below 4% for 30 months—the longest stretch in 50 years.”

Jobs increased in several sectors—health care, leisure and hospitality, and professional services. And wages continued rising, with average hourly earnings moving upward. BLS notes that “over the past 12 months, average hourly earnings have increased by 4.1%.”

Should we worry that higher wages are causing inflation? No. Although wage gains are positive, their rate of increase is slowing. And our inflation is driven by structural factors in supply chains, housing, and aggressive pricing by companies. Even Federal Reserve Chairman Jerome Powell has moderated his views, saying in March that wages are not the main reason for persistent inflation.

Nice try dumb fuck. But wrong AGAIN.  

Key Takeaways
If job creation continues on its current trajectory through January, Joe Biden will be the first president under whom the economy added jobs every month he was in office.
The trend in jobs over the last few years has been shaped by the pandemic as well as policy, for which economists credit Biden and his predecessor, Donald Trump.
Economists have been debating whether the recent job-creation streak can continue.
Joe Biden is on the verge of making history: If job creation continues on its current trajectory through January, he will be the first president under whom the economy added jobs every month he was in office.

Biden touted his administration's employment record in a speech Thursday to the Economic Club of Washington. D.C.
1. According to data from the Bureau of Labor Statistics, the economy has added jobs every month since Biden took office.
2. The last time the number of jobs decreased was in December 2020, while former President Donald Trump was still in office.

The trend in jobs over the last few years has been shaped by the pandemic as well as policy. Employers laid off more than 20 million people in the early days of COVID-19 but soon began re-hiring. The job rebound came alongside an unwelcome burst of inflation starting in late 2021, and in the Fed began raising interest rates to combat it the following year. Many experts at the time predicted the Fed's rate hikes would subdue inflation but cause a recession and tank the job market.

Economists have credited policies by Biden and Trump for stoking the job market in the wake of the pandemic.

 Massive pandemic relief bills signed into law by both administrations gave cash to employers and households, allowing people to continue spending money despite the wave of layoffs. Those same relief bills may also have contributed to the inflation surge that started in late 2021.

Can the Streak Continue?
Economists debate whether the recent job-winning streak can continue. A recession is still nowhere in sight, but job creation has slowed in recent months, raising concerns about the health of the labor market. The Fed's rate cut last week was meant to prevent job losses.  

"It's very hard to predict month to month, but the momentum on jobs under this president has been extremely solid, and I'm confident it will remain so," Jared Bernstein, chair of the White House Council of Economic Advisers, said in an interview with Investopedia. "It's true that payroll employment growth has slowed but you'd expect that, given the breakneck pace that was occurring when the President took office."

Biden's historical achievement would come with an asterisk. Barack Obama's second term in office, from 2013 to 2017, was an unbroken streak of job creation, the first since records began in 1939. However, the economy lost jobs during Obama's first term, which encompassed the Great Recession. Biden therefore would be the first president never to have presided over job losses at any point during his tenure, but Obama was the first to have a four-year term of straight employment gains.