New labor market data contradicts constant optimism about job market from President Joe Biden.
A Bureau of Labor Statistics report from Tuesday showed that job openings fell to the lowest level in April since February 2021. The 8.06 million jobs available, down 300,000 from March, came in significantly lower than the 8.4 million jobs that were estimated.
Underlying these gloomy labor market facts are constant pronouncements of optimism spouted by the likes of theWhite House press secretary Karine Jean-Pierre, and Biden himself. Equal parts patronizing and misleading, these far-too-common declarations of mass job growth clearly ignore a more thorough inspection of the labor market.
Many of the arguments coming from Biden supporters rely solely on macroeconomic data. They reference the low unemployment rate, GDP growth, and mass job increases.
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