President Trump’s economic policies are making it difficult for Democrats to criticize him. The July jobs report was better than expected, creating 1,763,000 new jobs while dropping the unemployment rate to 10.2%. While this is the smallest month of job creation since the shutdown ended, it’s still a strong number. The total number of new jobs created the last 3 months is 9,300,000. That’s the largest 3-month gain in US history.

Two months of record-setting payroll growth slowed in July but was still better than Wall Street estimates even as a rise in coronavirus cases put a damper on the struggling U.S. economy. Nonfarm payrolls increased 1.763 million for the month, the Labor Department reported Friday. The unemployment rate fell to 10.2% from its previous 11.1%, also better than the estimates from economists surveyed by Dow Jones.

Meanwhile, it’s worth noting that Ms. Pelosi hasn’t issued her monthly statement on that month’s jobs report. When the June Jobs Report showed that the economy had created 4,800,000 jobs, Ms. Pelosi ignored that statistic in her statement:

The early June snapshot in the jobs report, when the economy was opening up too early, does not reflect the coronavirus spiraling out of control, forcing communities that had begun to reopen to close once again.

“Unemployment continues to be higher than any previous period since World War II. We have reached 15 straight weeks of more than 1 million Americans applying for unemployment insurance and tens of thousands of new coronavirus cases reported each day, as the critical lifelines that are helping to keep American families and communities above water expire. Economists, scientists and even the Chair of the Fed have indicated that if we don’t deliver the investments in The Heroes Act, we will end up in a worse place economically and health wise.

With negotiations hitting an impasse on a 4th ‘stimulus’ bill, what will Pelosi criticize this time? Will she criticize the fact that we didn’t create as many jobs in July as we created in June? If June’s job creation numbers were record-setting, why didn’t Ms. Pelosi mention them when we broke that new record?

Pelosi and Schumer finally issued this joint statement on the July jobs report:

The latest jobs report shows that the economic recovery spurred by the investments Congress has passed is losing steam and more investments are still urgently needed to protect the lives and livelihoods of the American people. Millions of Americans are still hurting and yet, despite this reality, President Trump and Republicans appear ready to walk away from the negotiating table to do unworkable, weak and narrow executive orders that barely scratch the surface of what is needed to defeat the virus and help struggling Americans.

We remain committed to continue negotiating and reaching a fair agreement with the Administration, but we will not go along with the meager legislative proposals that fail to address the gravity of the health and economic situation our country faces. We call upon the White House’s negotiators to join us once again at the negotiating table today to secure a bipartisan agreement to put children, families and workers first.

There’s no proof that the recovery is slowing. It’s true that job creation numbers will eventually shrink. It’s impossible to picture the economy creating 3,100,000 jobs per month indefinitely. That’s more than 12,000,000 jobs created per year.

It isn’t surprising that CNN is carrying the Democrats’ water on the $600 ‘bonus’ through the unemployment system:

Leave a Reply