September Jobs Numbers ‘Worst Of The Year’ As U.S. Struggles: ‘It’s A Pretty Worrying Situation’

The new September jobs report numbers, released on Friday, proved yet another disaster for the Biden administration to contend with, as business analysts labeled the numbers the “worst” of the year and revealed that labor shortages are “getting worse.”

“The economy created 194,000 jobs in September, the smallest gain since December 2020 and down from 366,000 jobs added in August,” The Wall Street Journal reported. “Many workers gave up a job search and exited the labor force last month. The smaller pool of labor meant that despite the slowdown in hiring, the unemployment rate fell to 4.8% last month from 5.2% in August.”

Michael Pearce, senior U.S. economist at Capital Economics, said that analysts had forecasted that labor shortages would be getting better by now “but, in fact, they’re getting worse.”

“It’s a pretty worrying situation,” Pearce said.

Obama economist Austan Goolsbee warned that “until we can get control of the spread of the virus, we might have multiple months that are disappointing like this.”

CNN’s Chief Business Correspondent Christine Romans said that the jobs report was “way less, way less than anybody expected” and that it was “the worst of the year.” – READ MORE