US Economy Abruptly Slowing Adding Only 235,000 Jobs
By Stefan J. Bos, Chief International Correspondent Worthy News
(Worthy News) – U.S. President Joe Biden suffered another setback Friday as latest data showed the economy slowing abruptly last month, adding only 235,000 jobs.
The job figure is a sharp drop from the vast gains recorded earlier in the summer, despite the Biden administration spending trillions on stimulus payments and other give-always.
Several media outlets said the low job figures announced by the U.S. Labor Department was an indication that the Delta variant of the coronavirus is putting a damper on hiring.
But critical entrepreneurs say the $1,400 stimulus checks backed by President Biden discouraged people from working in lower-paying jobs such as in restaurants or grocery branches.
They also fear that a sharp increase in coronavirus cases and reported rising COVID-19 death rates will lead to more restrictions.
Despite little signs of improvements, there have been talks of raising another $800 billion in taxes, enough money for the federal government to finance two $1,400 stimulus checks.
They would be similar to the those most Americans received in the whopping $1.9 trillion Biden stimulus law during the coronavirus pandemic.
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