“Another terrible jobs report."
By Brandon Moseley
On Friday the U.S. government released the September jobs report showing that employment increased, but at a much more sluggish rate than Wall Street and most analysts had expected. U.S. Congressmen Mo Brooks (R-AL05) and Gary Palmer (R-AL06) both expressed alarm at the report and blamed the Biden Administration’s economic policies.
Brooks said on social media, “Another terrible jobs report. The federal government is creating labor shortages with bad public policy while inflation is driving up the cost of living. It has devastated Americans’ pocketbooks. Americans non-farm payrolls increased by 194,000 in September, compared with the Dow Jones estimate for 500,000.”
Palmer said, “Today's job numbers make it painfully clear the Biden administration is failing the American people. Our economy is suffering while the White House continues to focus on pushing their partisan agenda.”
While the unemployment rate dropped to 4.8%, better than the expected 5.1%, only 194,000 new jobs were created – much less than the 500,000 that analysts were expecting.
President Joe Biden, who has a different take on the jobs numbers, said there is still work to do but he is optimistic after seeing that "recovery is moving forward even in the face of a pandemic."
"An average of 600,000 new jobs have been created every month since we took office," Biden said. "Jobs are up, wages are up, and unemployment is down. This progress is attributed to the hard work and resilience of the American people, who are battling through this pandemic."
This news comes during a period where Congress is considering a massive $3.5 trillion spending bill that would increase government spending on social programs, raise taxes on millions of Americans, and increase government surveillance of Americans. Congress is also considering a $1 trillion infrastructure bill of which only a small portion would be spent on roads and bridges. Most of both bills will be paid for by adding to the national debt.
Palmer warned about rising energy prices.
“Gas prices are the highest they have been since 2014,” Palmer said. “We have the resources here in the United States to help reduce this cost. However, due to President Biden's 'America Last Energy Policy,' we are reliant on foreign oil. Instead of dismantling our energy sector and banning pipelines, the Biden administration must allow Americans to regain our energy independence.”
The national average for a gallon of gas is at the highest point since 2014. In some places, Americans are paying more than $5 per gallon of gas. Gas prices are more than $1 higher than this time last year, amid a jump in oil prices. This contributes to inflation.
“Inflation continues, but Democrats are still pushing trillions of dollars in wasteful spending through their infrastructure package,” Palmer warned. “Our economy cannot survive this kind of spending long-term.”
Brooks warned that adding to the debt will have economic consequences.
“Time is running out. Debt Junkie politicians must begin to understand the threat posed by deficits and debt,” Brooks said. “Otherwise, massive inflation will continue to the detriment of working Americans.”
Core inflation rose 3.6% in August from a year ago, the biggest jump in more than 30 years. Inflation ran at a fresh 30-year high in August due in part to supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, the Commerce Department reported.
The core personal consumption expenditures price index excludes food and energy costs and is the Federal Reserve’s preferred measure of inflation. That index increased 0.3% for the month and was up 3.6% from a year ago.
The Biden administration argues that it inherited the COVID-19 global pandemic and that inflation is up due to a robust recovery from the pandemic and the economic shutdowns. The administration further argues that spending is needed to address chronic equity issues and generational poverty in America’s economy.
Brooks countered, “Free enterprise has resulted in the USA being the most powerful nation in world history. On the other hand, Socialism has failed everywhere it has been tried. Why do Socialist Democrats want to take us in the direction of a system that fails?”
Mo Brooks is in his sixth term representing Alabama’s Fifth Congressional District. He is running for U.S. Senate in 2022. Gary Palmer is in his fourth term representing Alabama’s Sixth Congressional District.
(Original reporting by CNBC's Jeff Cox contributed to this report.)
