The Republicans need to figure out a new way to attack Democrats when it comes to the economy, as President Joe Biden once again has delivered a monthly Jobs Report that exceeded all expectations.
America added 254,000 jobs in September, a sharp rise from the 159,000 new jobs added in August. This surprised economists and should ease corporate media-fueled concerns about a weakening labor market, as the hiring pace is still solid enough to support a growing economy.
After rising for most of 2024, the unemployment rate dropped for a second straight month, from 4.2% in August to 4.1% in September, the Labor Department said Friday.
The report breaks down the numbers by industry: Restaurants and bars added 69,000 jobs, healthcare companies gained 45,000, government agencies 31,000, social assistance employers 27,000, and construction companies 25,000. Another category that includes professional and business services added 17,000 after three straight months of job losses.
The Jobs Report follows the pause in the dockworkers' strike which had loomed over the remaining weeks of the election. The combination is a great sign for Vice President Kamala Harris, who's faced criticism from the right regarding the White House's economic record--mainly because they've been busy lying about the numbers to distract from Donald Trump's terrible economic record during his lone term.
The economy’s progress in taming inflation led the Federal Reserve to cut its benchmark interest rate last month by a sizable half-point, its first rate cut in more than four years after months of rumors of an interest rate hike.
Thanks, Joey Jobs!