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September Jobs Report Is Out; What It Says About Our Economy Is Terrifying (DETAILS)

U.S. economy posted its first job losses since 2010 declaring 33,000 jobs were lost last month.

While Republicans criticized Obama for job losses back in 2010, after a series of hurricanes last month, they are defending themselves using the exact same argument. The difference is that despite the situation being worse in 2010, the unemployment rate fell down to 4.2% when recorded last month. This is the lowest in 16 years, even lower than 2005, when Hurricane Katrina ravaged Florida.

Pro-Trump economist Gus Faucher said,

“Although the headline number for September is a loss of jobs, the first in seven years, the labor market remains in good shape. The job losses were due to disruptions from Hurricanes Harvey, Irma and Maria, not underlying weakness in the economy.”

Interestingly, Faucher is the person who predicted “full employment” under Trump’s leadership. Kevin Brady, a Republican from Texas added to the argument, “it’s clear from this jobs report that Hurricanes Harvey and Irma not only devastated communities in Texas and Florida, they devastated their local economies as well.” Brady also said, “By passing a budget that paves the way for tax reform, the House took a major step yesterday toward creating more jobs, fairer taxes, and bigger paychecks.”

Despite the crisis, Republicans are trying to shift the blame on the disaster instead of acknowledging and resolving the problem.

 

Image Courtesy: Getty Images