Employment Crashed in December in Biden’s Economy

Thanks to the Biden administration’s disastrous policies, American workers have seen a crash in employment, even as real wages continue to drop. That’s Bidenomics!

With the dollar rapidly losing value and a de-dollarization trend among America’s enemies (notably Russia and China), neither the international nor national economic situation looks good for the U.S. coming out of 2023. The Biden administration is doing a good job of collapsing the system at a record rate.

ZeroHedge reported on Jan. 5:

“The services sector had a pullback in the rate of growth in December, attributed to the decrease in the rate of growth for new orders and contraction in employment," said Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee.

Prices slowed modestly (good news), but new orders dropped (still in expansion though), while employment crashed into the deepest contraction since the COVID lockdowns...

The National Pulse noted that October’s and November’s job numbers were revised downward after the fact, indicating the same will happen for December; furthermore, 25% of the added jobs this past month—52,000—were government jobs, meaning good news for a bloated bureaucracy but not for the overall economy. Not only that, as of June, “All New US Jobs Since The Covid Crash Have Gone To Foreign-Born Workers.” Is the situation still similar? Are American citizens getting any of the new jobs, or are the only individuals benefiting migrants (many of them illegals)? Not to mention that “slow” in prices means that inflation is not increasing quite so fast as it was.

In fact, economic expert Dave Brat posted a chart on Gettr Jan. 4 with the comment (note real wages are down, as they have been consistently since Biden took office):

“This chart and the one below speak to real people and the real economy, all the basics are down, manufacturing and real wages, but the stock market is up huge for the very rich, the top 10% scoring all the wins, and of course the market is up because the Federal Reserve and the Federal Government have flooded the Zombie Economy with money and Government Deficit spending to keep the Zombie alive, but the day is coming when the Zombie falls over, and the fallout will be bad.”

Rich people and government officials are still doing fine, so they don’t care a bit. But for the rest of us out in the real world, who have to pick up extra jobs to meet basic expenses or who are losing full-time work, Joe Biden is nothing but a huge-scale thief or wrecking ball.