JTN– Heading into the Labor Day holiday, President Joe Biden’s August jobs speech on Friday omitted that the unemployment rate increased in August, which the Federal Reserve had predicted would occur because of consistent hikes in interest rates.
The unemployment rate rose from 3.5% in July to 3.8% in August, which is the largest single month jump since May.
Biden painted a rosy picture of the overall U.S. economy during his speech, saying inflation is going down, while the latest data indicates that prices are still high at 3.2%. CBS News reported that July’s 3.2% inflation rate represents the “first increase after 12 consecutive months of cooling prices.”
Biden’s speech comes after the Fed raised interest rates on July 26 for the 7th consecutive time to their highest level in more than 22 years, CNBC reported.
Ignoring gloomy economic indicators stated by his own administration, Biden said “Today we have the strongest economy in the world.”
According to a PBS report in June, the Fed “projected that its rate hikes will weaken the economy and raise unemployment, as well as lower inflation.”
A Time magazine report from February also laid out in detail why the Fed has been intentionally trying to slow job growth to get inflation under control. Biden obliquely referenced the Fed’s actions during his speech. more
When has this feckless crook ever told the truth about anything? He lies everytime he opens his mouth and even when he doesn’t… as in lying by ommission.
Why expect anything but scary patholigical lies from the criminals hijacking our government?
everyone knows the economy is better than ever!….just aks joey biden…..
everyone knows we’ve never had it this good!…..just aks joey biden….
everyone knows this is the bestest economy in the history of the world!…. just aks joey biden….
EVERYONE who shops for groceries knows……something different…….
LOL, Shits, Giggles. Just saying, there’s a small chance that I might have been responsible for those monikers. However it was so obvious. Sadly I might add.
The entire Federal government was corrupted by the Clintons. Obama and Biden both said “Hold my beer.” You can’t believe anything the federal government says and you have to be suspicious of everything they do.
3.8 % unemployment….phhhht! They no longer consider the 100 million that left work during the dempanic and never returned.
FJB