Biden denies benefits are holding back job-seekers

Biden denies benefits are holding back job-seekers

The April jobs report was the biggest miss on record.

The boilerplate about "income inequality" reads like a deliberate effort to goad Biden and his Democrat Party into slamming the American economy with even higher taxes and throwing even more money into wealth redistribution programs, a strategy that would indeed leave Beijing with very little to fear from the U.S.in terms of industrial competition for years to come.

"It has become clear to me that we can not have a full economic recovery until we get the thousands of available jobs in our state filled", Mississippi Gov. Tate Reeves, a Republican, said in a tweet.

Job gains for March were also revised down to 770,000 from a blockbuster 916,000 additions.

In all, 9.8 million Americans remained unemployed last month. Instead, it focused on dire predictions of what the future might hold if America's recovery from the Wuhan coronavirus pandemic is "bumpier than many expected". With the federal supplement, Americans are receiving about $630 in weekly unemployment benefits.

The Biden administration's new $1.9 trillion stimulus plan extended the weekly unemployment benefit at $300 through September 6.

The average state unemployment benefit is about $330 per week.

Therefore, I have informed the Department of Employment Security to direct the Biden Administration that MS will be opting out of the additional federal unemployment benefits as early as federal law allows - June 12, 2021.

"This is a stunning economic setback", Rep. Kevin Brady, R-Texas, wrote in a Friday tweet after the report came out.

"My guess is we'll come back to this economy where we have equilibrium between labor supply and labor demand", he said.

When President Biden took office in January, the main problem with the economy was that there weren't enough jobs for all the workers who wanted one. "We don't see that, look, it's easy to say, the line has been, because of the generous unemployment benefits, that it's a major factor in labour shortages".

"People respond to incentives", Krugman wrote.

Treasury Secretary Janet Yellen acknowledged that business owners are having difficulty in hiring workers.

The Global Times was not far from the general response to the April report from USA analysts but spared only a few lines to discuss what the report actually said.

Another troubling sign in the jobs report was that 219,000 more women had given up on working or finding a job last month.

Some economists also warn that Biden's ambitious plan to increase corporate taxes would prolong the recovery of the economy and the jobs market.

However, the former IRS chiefs did not actually comment on how the proposals would impact economic growth.

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