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Sunday, September 29, 2024

American economy continues to suffer, jobs '306,000 short of what economists expected'

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Courtesy of Unsplash

Courtesy of Unsplash

The COVID-19 pandemic is far from finished causing disruptions to the American economy; in fact, the new jobs added to the economy in September are far short of where they should be, with only 194,000 new jobs added last month. 

This number is over 300,000 jobs short of what economists expected in terms of new work opportunities, CNN reported.

"President Biden’s September jobs report was the worst of his presidency. Only 194,000 new jobs were added, 306,000 jobs short of what economists expected, and President Biden remains 944,000 jobs short of what he promised as part of the American Rescue Plan stimulus in March," U.S. Rep. French Hill wrote in a Facebook post Oct. 8. "Because of the Biden administration’s policies more people are staying at home instead of returning to the workplace and central Arkansans and the American people continue to suffer from the effects of inflation in the form of higher prices for everyday items.” 

The unemployment rate in September fell to 4.8%, with women losing 26,000 jobs, CNN reported. 

Jobs are still attempting to catch up after some industries, namely the hospitality and tourism fields, are still waiting to see COVID-related challenges balance out and for clientele to increase again. 

Some industries may also have adapted to smaller crews and are in need of fewer employees than in years past. 

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