RNC Chairwoman Ronna McDaniel has come forward with a major statement following the release of the recent October jobs data. The numbers tell a story that’s far from rosy: a mere 150,000 jobs added, which falls short of what economic experts predicted. Marking it as the second worst job report under Biden’s leadership, it’s clear that the U.S. economy is in turbulent waters.
“Biden and Democrats are lying about the economy – today’s jobs report is the second worst jobs report of Biden’s entire presidency. Families are struggling to keep up with lower real wages and higher prices on everything from gas to groceries, yet Biden refuses to accept any accountability for his failures. Bidenomics isn’t the ‘American Dream,’ it’s our American nightmare,” McDaniel said.
OCTOBER JOBS REPORT: The private sector added just 99K jobs in October — far lower than expected. The manufacturing sector lost tens of thousands more jobs than expected. pic.twitter.com/yA9Lx9lRmc
— RNC Research (@RNCResearch) November 3, 2023
The numbers paint a bleak picture:
- A concerning rise in unemployment to 3.9%, coupled with a declining labor force participation rate that hasn’t bounced back to pre-COVID standards.
- A massive hit to the average American middle-class family’s wallet, with a drop of over $33,000 in real wealth in just one year.
- Skyrocketing gas prices, with the average gallon costing $3.44, marking an increase of over $1 since Biden’s inauguration.
- The Federal Reserve’s aggressive strategy is evident with 11 interest rate hikes since March 2022. Now, interest rates are at their pinnacle in 22 years, making the American Dream even more elusive for families wanting to own a home or manage their debts.
- Despite these evident setbacks, the administration’s efforts to deflect criticism aren’t resonating with Americans. Recent polls suggest that the nation’s trust is leaning towards Republicans when it comes to economic management.
It’s becoming clear: the people believe there’s a need for a change in economic strategy. The question remains, will this outcry be answered?