The April jobs report was released Friday morning as Joe Biden slept and it was a huge miss.
Non-farm payrolls increased by 175,000 in April, well below the expected 240,000 estimate.
The unemployment rate moved higher in April to 3.9% (it’s actually higher than this) – this is the highest since November 2021.
Zero Hedge reported the truth about April’s abysmal jobs report:
Ahead of today’s payrolls report, in our preview we said that while we knew we would get a slowdown, the question was how big it would be (and before that we also asked if Yellen had leaked the weaker number to Japan ahead of their multiple interventions this week to prevent them from wasting tens of billions in intervention dry capital for nothing).
We got the answer moments ago when the BLS reported that in April the US added just 175K jobs, a nearly 50% drop from the upward revised 315K (was 303K), the lowest print since October 2023…
… and a two-sigma miss to estimates of 240K.
In fact, as shown below, this was the biggest miss since Dec 2021
CNBC’s Rick Santelli went off on the abysmal jobs report numbers.
WATCH:
APRIL JOBS REPORT: “MUCH LESS THAN EXPECTED” pic.twitter.com/e2ogNCNF0O
— RNC Research (@RNCResearch) May 3, 2024
President Trump unleashed on Joe Biden in remarks outside of a New York City courthouse.
“The job numbers just came out, and they are horrible… these people are destroying our country, and here’s another sign of it,” Trump said in brief remarks before heading into court in week 3 of Alvin Bragg’s lawfare ‘hush money’ trial.
“There is no leadership,” Trump added.
WATCH:
PRESIDENT TRUMP: The job numbers just came out, and they are HORRIBLE… these people are destroying our country, and here’s another sign of it. pic.twitter.com/6dJJm2zzkQ
— Team Trump (Text TRUMP to 88022) (@TeamTrump) May 3, 2024
The post Trump Unleashes on Biden Over Abysmal April Jobs Report (VIDEO) appeared first on The Gateway Pundit.
