The esteemed expert class of America recently predicted that the U.S. economy added a million new jobs in the month of April.
"We are looking for a pretty good figure, reflecting the ongoing reopening we have seen," said James Knightley, chief international economist at ING in New York.
"We'll get a good number, which is great. It's just so nice to see numbers that are encouraging compared to the gut-wrenching numbers we had a year ago," said Diane Swonk, chief economist at Grant Thornton.
Reuters did a survey of those expert economists and found an average prediction of 978,000 jobs gained.
BOY, WERE THEY ALL WRONG:
266,000 jobs isn't even close to a million. If you're wondering, this was the biggest miss on a payrolls prediction in American history.
Oh, and the unemployment rate also went up to 6.1%.
And just for kicks, March's numbers were also revised downward to 770,000 from 916,000.
Combined with skyrocketing prices on general goods and supplies, some individuals are reminding everyone that they called this when we shut down our economy for a year, spent more money than the human mind can comprehend, and funneled our resources toward making our nation woke.
Biden quickly addressed the report, which certainly isn't showing America "building back better" anytime in the immediate future. Watch him offer a laugh and a chuckle about our failing livelihoods as he tells us this is actually a good thing:
Who are you gonna believe, Joe Biden or your own eyeballs??
I mean, look at this spin:
Outlets like WaPo were VERY CAREFUL not to insult our Glorious Supreme Leader Who Makes The Sun Rise In The East!
According to the Dictionary of Newspeak, you can now call "economic disaster" a "rethink" and "labor shortage" a "reassessment."
May I remind you that all the jobs Biden is taking credit for are positions that would have still existed if governments didn't forcibly close down the economy. It's kind of like taking a flamethrower to 20 tomato plants and then taking credit for the three plants that struggled to grow back.
Data from the jobs added demonstrates this. Most added positions were in the hospitality or restaurant industries, which were the hardest-hit by lockdowns. Jobs in manufacturing, automotive, wood products, warehouses, and transportation went down. Delivery services also dropped quite a bit, perhaps due to less demand for at-home pandemic ordering. Construction was flat, which is not a good sign.
Oh, and 48,000 of those added jobs were for government positions, which don't create capital.