The June jobs report topped expectation by over 100K jobs, with 372K gains.
“The strong 372,000 gain in non-farm payrolls in June appears to make a mockery of claims the economy is heading into, let alone already in, a recession,” said Andrew Hunter, senior U.S. economist at Capital Economics.
Hourly wages up 5.1% which is slightly better than predicted. If Trump received this type of jobs report during the COVID supply change shortages that has skyrocketed inflation, Fox News would be jumping for joy.
However, since Biden is in office, Fox News and Business did their their best to keep America scared.
On Fox and Friends, Steve Doocy came on and said, "Better than expected, but still less than we've had."
What does less "than we've had" refer to? Who knows. As long as Doocy claims things were better sometime in the past, his job was done.
A dour Charles Payne said, "The trend is moving lower, it's better than expected --We still have over 11 million job openings."
More jobs means workers are needed.
That's a good thing.
Payne then bashed the way the US tallies the unemployment rate. The Fox Business host never complained about it when Trump was in office.
Payne continued, "But remember inflation is at 8% so in the real world people are still struggling because their wages still aren't keeping up with inflation."
We are in the real world, Charles, and economies don't magically change in one month.
The entire world is suffering from inflation and high energy costs and any positive news is a good thing.
President Biden trolled Traitor Trump today on the great jobs report too.
President Biden, "We have more Americans working today in the private sector than any day under my predecessor. More today than anytime in American history."