Today, the U.S. Department of Labor released its monthly jobs report. The US economy added 266,000 jobs in April, the unemployment rate rose from 6.0% to 6.1%, and the LFPR was 61.7%. The main sectors of growth were leisure and hospitality, other services, and local government education.
“The huge miss in expectations is because the unnecessary additional unemployment benefits are incentivizing people to stay home. As we’ve been saying all along, the extension of unemployment benefits would hurt our recovery, and now we are seeing that in real time. Additionally, President Biden’s relinquishing leadership to the teachers union on reopening schools has prevented people from getting back to work. Kids should be back in the classroom, and – once summer comes – back at camp. The science shows that it’s safe and it will allow parents to get back to work.
“We don’t need to spend any more taxpayer dollars. Thanks to the previous administration’s Operation Warp Speed, we have a vaccine in record time. That is the stimulus. States that are open such as Florida and Texas are doing extremely well. Led by small businesses, America is poised to renew its pre-Covid boom, but the Biden Administration needs to stay out of the way. On issues ranging from taxes to the minimum wage to organized boycotts, the Biden Administration is waging a ‘war on small business,’ and that needs to end. Our message to President Biden is simple: ‘Hey Joe! Why don’t you just head back to the basement and stop breaking what ain’t broken?’”
Last week, JCN released a backgrounder, “Biden and the Democrats’ War on Small Business.” The backgrounder summarizes the Democrats’ job-killing agenda in four areas: taxes, the minimum wage, lockdowns, and the PRO Act. To read it, click here.