January 2022 Jobs Report Expected To Be Awful – Payrolls Fell By Over 300,000

Joe Biden has been a disaster for the economy and American jobs.

Instead of focusing on the engine of America, he has wated the last year trying to push his Build Back Better bill and then the ridiculous Democrat voter reform bill.

In the meantime, it is America’s working class that suffers.

The January jobs report comes out on Friday and it’s going to be terrible.

CNBC reports:

Companies unexpectedly cut 301,000 jobs in January as omicron slams labor market, ADP says

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Companies cut jobs in January for the first time in more than a year as the spread of the Covid omicron variant appeared to hit hiring, payroll processing firm ADP reported Wednesday.

Private payrolls fell by 301,000 for the month, well below the Dow Jones estimate for growth of 200,000 and a marked plunge from the downwardly revised 776,000 gain in December. It was the first time ADP reported negative job growth since December 2020.

The pandemic-sensitive leisure and hospitality industry was responsible for more than half of the decline, as companies reported a drop of 154,000. Trade, transportation and utilities cut 62,000 while the other services category declined by 23,000.

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Manufacturing also lost 21,000 positions, while education and health services reported a drawdown of 15,000 and construction fell by 10,000.

Service-providing industries were responsible for 274,000 of the job losses, with goods producers falling by 27,000.

“The labor market recovery took a step back at the start of 2022 due to the effect of the omicron variant and its significant, though likely temporary, impact to job growth,” ADP’s chief economist, Nela Richardson, said.

This is all on Joe Biden. Democrats and the media would have blamed Trump for this an turnabout is fair play.

The Biden administration can try to blame this on COVID if they want to.

No one is buying it.

 

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