(TruthandLiberty.com) – In late January, President Joe Biden touted the economy as growing at the fastest rate in US history. Yet, the president didn’t mention the negative aspects inflicting harm on Americans, such as inflation. Now, the job report numbers may compound problems for Biden as his approval ratings continue to sink to new lows. On Wednesday, February 2, ADP, a private payroll company, reported that jobs tumbled from an expected gain of 200,000 to a loss of 301,000.
It was the biggest decline in the payroll processing firm’s data since the pandemic began in March 2020 and the first time the company posted a negative employment growth report since December 2020. The information appears to be a blow to the nation’s labor market. While some economists say the decline is temporary so long as the Omicron variant dissipates, they have struggled to present accurate predictions over the last year.
Report: Economy lost 301,000 jobs in January, Omicron blamed https://t.co/squANpWKqu
— UPI.com (@UPI) February 2, 2022
The data may reinforce voter views that Biden doesn’t have a firm grip on the economy or solutions to America’s economic challenges. In a January 28 poll released by YouGuvAmerica, over half of Americans disapproved of Biden’s handling of the economy and jobs. More than 80% said inflation was a serious problem, and 69% said unemployment was a serious national issue.
Copyright 2022, TruthandLiberty.com
