November Surprise: Last Jobs Report Before Election Is a Complete ‘Disaster,’ Shows Worst Numbers in Years
The article discusses a disappointing jobs report released by the Bureau of Labor Statistics (BLS) for October, indicating only 12,000 jobs were added, significantly below the predicted 113,000. The unemployment rate held steady at 4.1 percent, marking the lowest job growth since December 2020. Critics, including political commentators and analysts, attributed this poor performance to the economic policies of the Biden-Harris administration, with some arguing it reflects the failure of Vice President Kamala Harris’s economic agenda. The report was characterized as a “catastrophe” by various commentators, with indications that nearly 30,000 private sector jobs and 50,000 manufacturing jobs were lost in a single month.
Additional revisions show that previous job creation figures for August and September were also lowered significantly, revealing weaker labor market conditions than previously reported. October saw gains primarily in health care and government sectors, while temporary help services and manufacturing experienced notable declines. Commentators highlighted that the lack of private sector job growth has been obscured by government hiring, which is being funded through substantial deficit spending. The article concludes with hopes that voters will remember this jobs report when considering the economic management of the past administration.
Chalk Friday’s jobs report up as a “November surprise” for the Kamala Harris campaign and further proof of the argument Donald Trump has been making for some time now: His administration’s economy was far better.
The Bureau of Labor Statistics reported that just 12,000 jobs were added in October, well below the 113,000 economists had predicted, according to Fox Business. The unemployment rate remained at 4.1 percent.
October’s jobs figure is the lowest seen since the heart of the pandemic in December 2020.
This jobs report is a catastrophe and definitively reveals how badly Kamala Harris broke our economy.
In a single month, Kamala’s failed economic agenda wiped out nearly 30,000 private sector jobs and nearly 50,000 manufacturing jobs. Working families are being ripped off by… pic.twitter.com/NIWr7cUzB0
— Karoline Leavitt (@kleavittnh) November 1, 2024
Fox Business host Charles Payne called the report a “disaster” and dismissed the spin that some are offering that a Boeing strike and hurricanes Helene and Milton are the primary reasons for the dismal number.
“[It’s] disingenuous to assume ‘experts’ that contributed to consensus didn’t factor into their estimates hurricanes and strikes. Moreover, huge negative revisions continue to reveal a much weaker labor market than the media and economists portray,” he posted on X.
Jobs Report is a disaster and its disingenuous to assume “experts” that contributed to consensus didn’t factor into their estimates hurricanes and strikes.
Moreover, huge negative revisions continue to reveal a much weaker labor market than the media and economists portray. pic.twitter.com/bf8RKJ6gMa
— Charles V Payne (@cvpayne) November 1, 2024
The BLS jobs report also contained significant downward revisions in the number of jobs created in August and September.
The August jobs report was lowered by 81,000, from 159,000 jobs to just 78,000, while September was brought down 31,000 from 254,000 jobs to 223,000.
BREAKING: The Labor Department has revised the last TWO jobs reports LOWER by a combined 112,000 jobs.
Initially reported numbers showed that the US added 254,000 jobs in September which was just revised down by 31,000, to 223,000.
At the same time, the August jobs report was… pic.twitter.com/t4x6xge44G
— The Kobeissi Letter (@KobeissiLetter) November 1, 2024
The trend of revising downward the number of jobs created during the Biden-Harris administration has been going on for months.
The BLS announced in August that its previous monthly reports had overstated jobs added to the economy between March 2023 and March 2024 by 818,000.
This latest jobs report is a disaster for the Biden-Harris Administration.
It’s the lightest jobs report since December of 2020.
Inflation continues.
Unemployment high.
Americans struggling.That’s Bidenomics! pic.twitter.com/jM0SC3H1jH
— Rep. Wesley Hunt Press Office (@RepWPH) November 1, 2024
Regarding the October jobs report, it’s worth noting that health care and government led the way in added positions, with 52,000 and 40,000, respectively.
Meanwhile, employment in temporary help services declined by 49,000 and manufacturing jobs fell by 46,000.
Conservative commentator Ben Shapiro pointed out that, “Kamalanomics has now produced a NEGATIVE private sector jobs report. Only government hiring people kept the overall employment number in the black.”
Kamalanomics has now produced a NEGATIVE private sector jobs report. Only government hiring people kept the overall employment number in the black.
— Ben Shapiro (@benshapiro) November 1, 2024
Keep in mind that any hiring the federal government is doing or subsidizing at the state and local levels through grants is being paid for through massive deficit spending, over $1.8 trillion in fiscal year 2024 alone.
And of course, sustained deficit spending at that level is inflationary, which has been another hallmark of the Biden-Harris economy.
Hopefully, the majority of voters will keep this jobs report and the economy overall in mind and choose to return to the prosperity seen under Donald Trump.
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