Treasury Secretary Yellen Says Job Market in ‘Deep Hole' After Biden Kills Jobs
Janet Yellen points about the obvious as Biden destroys jobs
Treasury Secretary Janet Yellen has warned the job market is still “in a deep hole” with “a long way to dig out" as thousands of U.S workers lose their jobs under Joe Biden's policies.
“I’m afraid that the job market is stalling,” Yellen warned.
“We saw that in Friday’s unemployment report, just 6,000 private-sector jobs created, 49,000 overall, and that’s after a month in which we actually saw job loss."
"We have 10 million people unemployed, 4 million have dropped out of the labor market, and another 2 million are working part-time who really would like full-time work,” she continued.
“We’re in a deep hole with respect to the job market and a long way to dig out.”
An executive order to cancel the pipeline was one of Biden's first actions in the White House, which resulted in thousands of job losses.
The company Keystone XL pipeline project, TC Energy Corporation, said they would be forced to slash more than 11,000 jobs.
One of the Americans whose job was killed off thanks to Biden's action, Neal Crabtree, described how Biden's policies would affect him.
"I build pipelines, I'm used to layoffs," Crabtree wrote in a Facebook post that has been shared 4,000 times.
"We start projects knowing that once it's complete, we're getting laid off."
"We depend on these temporary projects though to make a career."
"What happened today was different," said Crabtree.
"I've got a sickening feeling in my stomach tonight and an aching feeling in my heart that I've never felt."
Meanwhile, CBO analysts forecast that the number of out-of-work Americans would not return to pre-pandemic levels until around 2024.
“As the economy expands, many people rejoin the civilian labor force who had left it during the pandemic, restoring it to its pre-pandemic size in 2022,” according to the CBO report.
Biden even admitted the U.S. would not be at “full employment” until 2031:
“That’s not hyperbole. That’s a fact,” Biden said.
If that wasn't bad enough, the Biden administration is pursuing a labor policy that would flood the labor market with millions of illegal aliens, foreign visa workers, and green card-holders.