(Tony Sifert, Headline USA) President Joe Biden attempted to soften the blow delivered by the Department of Labor‘s bleak November Jobs Report, claiming in prepared remarks that “America is back to work and our jobs recovery is going very strong.”
“Americans, on average, have more in their pockets today . . . than they did last year,” Biden said, “after accounting for inflation.”
The president’s optimistic take was supported by Labor Secretary Marty Walsh, who gushed in a statement that “the Biden-Harris Administration continues to deliver a historic, worker-centered recovery.” Walsh reserved special praise for an “inclusive recovery” that saw “major reductions in the unemployment rates for black workers, Hispanic workers.”
It took the administration some time to locate and don their rose-colored spectacles. Press Secretary Jen Psaki had an opportunity to address the report in an appearance on MSNBC‘s Morning Joe, but she refused to comment.
“I know this sounds a little archaic, but I can’t comment on them until 9:30,” Psaki stammered to the nervous laughter of her interlocutors.
The New York Times and CNBC were more realistic.
“Stocks on Wall Street slid on Friday” as a result of the report, according to Coral Murphy Marcos at The New York Times.
“The muddled jobs report comes as uncertainty over the Omicron variant looms over financial markets,” Marcos continued, “raising concerns about the fate of the economy as new restrictions are put in place.”
At CNBC Jeff Cox reported that “nonfarm payrolls increased by just 210,000 for the month,” far short of “Wall Street expectations of 573,000.”
According to Cox, “leisure and hospitality . . . saw a gain of just 23,000 after being a leading job creator for much of the recovery [and] remains about 1.3 million below its February 2020 level, with an unemployment rate stuck at 7.5%.”
