Unemployment Soars Under Biden, 'Way Worse Than Expected,' Latest Figures Show
New jobs report reveals U.S. economy seriously struggling under Joe Biden
Unemployment rates in the United States are soaring since Joe Biden was sworn into office, the latest jobs report released on Friday morning reveals.
The latest figures come as fears are growing of soaring inflation under Biden's struggling economy.
As the Democrat-controlled government continues to print money with massive spending bills, experts are warning America's economic recovery is "way worse than expected."
According to CNBC, the financial reports show hiring was a huge letdown in April.
Nonfarm payrolls increased by far fewer than expected at just 266,000.
The unemployment rate rose to 6.1 percent amid an escalating shortage of available workers.
Dow Jones had based estimates on the economy adding an additional 1 million new jobs and an unemployment rate of 5.8 percent.
According to Bloomberg, the numbers "are way worse than expected."
The outlet described the figures from the report as seeming "very off."
A separate report from CNN warned Americans that, “if you haven’t felt [inflation] yet, it’s coming.”
“You can expect higher prices for toilet paper, diapers, soft drinks, plane tickets, a tank full of gas,” CNN Chief Business Correspondent Christine Romans said.
“Whirlpool is raising prices of some of its appliances by up to 12%.”
CNN's @ChristineRomans: "If you haven’t felt it yet, it’s coming. You can expect higher prices for toilet paper, diapers, soft drinks, plane tickets, a tank full of gas. Whirlpool is raising prices of some of its appliances by up to 12% ..." pic.twitter.com/02JnIf4b4s— Tom Elliott (@tomselliott) May 7, 2021
I cannot emphasize enough how much inflation there is right now - not just risk, but already here.— Josh Jordan (@NumbersMuncher) May 7, 2021
Just in 2021 the cost to get products here has skyrocketed, and that's not including the huge jumps in the costs of materials.
The landed cost of my products are up 25%+ in 2021. https://t.co/aXoXIMMZWG
"I cannot emphasize enough how much inflation there is right now - not just risk, but already here," economist Josh Jordan warns.
"Just in 2021 the cost to get products here has skyrocketed, and that's not including the huge jumps in the costs of materials.
"The landed cost of my products are up 25%+ in 2021."
As Neon Nettle previously reported, Joe Biden was caught making false claims that his record-breaking spending will create "16 million good-paying jobs."
During a speech Wednesday in Lake Charles, Louisiana, Biden significantly misstated estimates on how many jobs would be created through the implantation of his "American Jobs Plan."
The Democrat has called on Congress to approve roughly $2.2 trillion in spending on physical infrastructure projects.
However, the controversial massive spending plan is packed with other goals favored by his administration and the Democratic Party.
In his latest pitch, Biden falsely claimed the "American Jobs Plan" would add 16 million jobs to the economy – a figure that's far higher than genuine projections.
"All the economists, including the liberal as well as the conservative think tanks, point out we will create up to 16 million good-paying jobs," Biden said at the event.
The figures quoted by Biden are grossly misleading, however.