Biden Gets Painful Economic News on Day of State of the Union: February Layoffs Surge to Highest Level in 15 Years
On Thursday at 9 p.m. EST, President Joe Biden is scheduled to give the American people an update on the health and welfare of our nation. I’m not sure any of us need the update. I think we all see what the actual state of the union is without it being encapsulated in an intentionally skewed State of the Union address.
It will especially be interesting to see how Biden’s speechwriters massage the dismal surge in employment layoffs recently, as reported by Challenger, Gray & Christmas. According to Fox News, the report revealed the acceleration of job cuts by U.S. employers “marked the highest layoff total for the month of February in data going back to 2009.”
That’s abysmal. And certainly not optimal news for Biden or the Biden administration to get on the morning of the State of the Union.
What this means is that the labor market is deteriorating, with employers in February reportedly making plans to shutter 84,638 jobs. This number is up 3 percent from January, and 9 percent from the same time last year.
Oh no. Where is the government going to get all the money they need to fund the lifestyles of all the illegal immigrants they just welcomed through the door of the southern border?
As the Federation for American Immigration Reform calculated, it costs $150.7 billion to fund illegal immigration annually, as reported by Newsweek. The ultimate burden falls on American taxpayers to carry the load. They can’t pay up without jobs though.
This is definitely not the news the White House wanted to wake up to. The timing of it couldn’t have been more inconvenient for Biden.
Putting this in perspective however, there is never a good time to seemingly sink a country, intentionally. Biden actively took up the task anyway, and he was truly masterful in his approach.
Undoubtedly, he will be equally as masterful in covering these numbers up or conveniently glossing over them.
As the technology sector was hit the hardest, education followed. The dominant excuse for the shedding was mere restructuring. I’d like to ask the question, “How exactly do you replace the impact of a dedicated teacher, because that teacher isn’t just facts and numbers?” He is so much more.
If you suspect the aggressive emergence of AI may have something to do with declining employment rates, companies would rather you look the other way. They’d prefer to blame it on difficult economic and market conditions.
Economists believe the job market has hit the stage of normalizing, with the unemployment rate lingering at 3.7 percent. The Labor Department will be coming out with its own report on Friday, which is expected to show the growth of 200,000 additional jobs in February. Compare that to the 353,000 jobs added in January.
The Organisation of Economic Co-Operation and Development predicts that the unemployment rate will climb to 4.1 percent in 2024, only to continue to soar through 2025, according to Newsweek. How Americans are going to live remains to be seen. The ripple effect could sink our nation deeper into despair.
I’m sure not even former President Donald Trump is happy about the news. However, for his re-election campaign, it’s stellar. Following his success on Super Tuesday, it just received added fuel. Biden’s failed policies are coming back to roost, once again showing that Trump Amnesia is anything but.
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