Americans don’t need trillions in spending to get back to work

Sharing is Caring!

Something is wrong with the economy. According to the Labor Department, businesses posted a record-high 10.9 million job openings in July. But despite this unprecedented number of open positions, the economy added only 235,000 net new jobs in August, nearly half a million fewer than economists had expected.
How can there be so many job openings yet so few people willing to take those jobs?
It’s not that employers aren’t raising wages; they are. Average hourly earnings rose at a 6.9% annual rate in August. These gains were concentrated where they are needed most, in the low-skill jobs companies are having the hardest time finding willing workers.
Part of the problem in filling vacancies might be that inflation is rising faster than pay, which means a decline in real wages. Thanks in large part to President Joe Biden’s spending spree, the economy is suffering from inflation rates not seen in …

See also  Psaki: Vaccine Mandates Are For Americans, Not Illegal Aliens at Southern Border
See also  If Biden’s Mandates Force Millions Of Americans Out Of Their Jobs, Our Supply Chain Nightmares Will Get Much Worse


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.