Democrats keep using employment numbers to “prove” that the economy has been good on their watch but those numbers don’t bear out.
The Department of Labor’s Bureau of Labor Statistics published a report on Wednesday showing that U.S. job openings fell to their lowest level in July since 2021. The report shows 237,000 fewer jobs in July and revised the number lower for June too.
Layoffs are also up to 1.76 million. The jobs that have been added are mostly gig and government jobs, which is not a sign of a robust economy.
We still have a few more days to wait but all signs point to the Federal Reserve lowering interest rates this month. It will be a bandaid on a stitch wound because it may stimulate borrowing but it will worsen inflation. Hold on.
