Job Creation and Unemployment for August 2021

THE U.S. LABOR DEPARTMENT ANNOUNCED THAT THE ECONOMY ADDED 235,000 JOBS IN AUGUST AND THAT THE UNEMPLOYMENT RATE CAME IN AT 5.2%, DOWN FROM THE 5.4% IN JULY. IT WAS THE SEVENTH STRAIGHT MONTH OF POSITIVE JOB GROWTH IN BIDEN'S FIRST 7 FULL MONTHS IN OFFICE. THE ECONOMIC PUNDITS WERE WRONG ONCE AGAIN WITH THEIR PREDICTIONS LIKE THEY HAVE BEEN ALL ALONG JUST LIKE THE GOP WHO WANT TO SEE THE PRESIDENT FAIL BECAUSE THEIR PARTY HAS A TERRIBLE RECORD ON THE ECONOMY, JOB CREATION AND UNEMPLOYMENT. THE JOB NUMBERS ALSO PROVED THOSE GOP GOVERNORS WHO CUT OFF THE UNEMPLOYMENT MONTHLY FUNDS BECAUSE THEY SAID IT ENCOURAGED PEOPLE NOT TO WORK PROVED WRONG BY THE AUGUST JOB NUMBERS. THE UNEMPLOYMENT RATE WHEN TRUMP LEFT OFFICE IN JANUARY 2021 WAS 6.3%. IT WAS 4.7% WHEN OBAMA LEFT OFFICE IN JANUARY 2017. TH ECONOMY LOST JOBS ON TRUMP'S WATCH, THE FIRST PRESIDENT TO HAVE A NEGATIVE JOB CREATION RECORD SINCE THE GREAT DEPRESSION. PRESIDENT OBAMA INHERITED THE GREAT BUSH RECESSION OF 2008 BUT STILL CREATED OVER 11,000,000 NEW JOBS. THE AUGUST NUMBERS TELL THE STORY F AN ECONOMY THAT IS STILL RECOVERING AT AN UNEVEN, BUT STEADY PACE DUE TO THE SEVERITY OF THE RECESSION, THE PANDEMIC, THE LATEST COVID SURGE (AND OTHERS) AND A LACK OF VACCINATIONS AMONG MILLIONS OF AMERICANS WILLING TO PUT THEMSELVES AND OTHERS AT RISK. THE COUNTRY IS MAKING PROGRESS DESPITE THE NEGATIVE VOICES OUT THERE. THE GDP WAS 6.3% IN THE FIRST QUARTER AND 6.6% IN THE SECOND QUARTER BASED ON AN ANNUAL BASIS. THE ECONOMY HAS ADDED OVER 4,000,000 JOBS ON BIDEN'S WATCH AND WHEN CONGRESS PASSES THE PRESIDENT'S INFRASTRUCTURE BILL AND HIS BUILD BACK BETTER BILL THE OUT LOOK FOR CONTINUED ECONOMIC AND JOB GROWTH EXPANSION WILL BE LONG TERM. SO TUNE OUT THE GOP AND THEIR DITTO HEADS WITH THEIR TRASH TALK. AMERICA HAS AN ADULT IN THE WHITE HOUSE WHO HAS PLANS AND POLICIES FOR THE FUTURE AND THEY ARE WORKING. THIS COMMENTARY WRITTEN BY JOE LORIO