Unemployment Nightmare

It now has been learned that the March jobs report has been another major disappointment for President Biden’s administration because fewer jobs have been created once again.

According to CNBC, just 431,000 nonfarm payroll jobs were added in March. The national unemployment rate stood at 3.6% according to the Bureau of Labor Statistics. Sadly, economists were expecting to add 490,000 jobs on payroll and have an unemployment rate 3.7%.

CNBC’s Rick Santelli explained the numbers as a “bit of a mess” since there were 60,000 fewer jobs which were created by President Biden.

WATCH:

“The CPI rate was close to 8%. Wages as strong as they are post COVID high on the year over year was 5.6%. There’s a bit of a spread there,” says Rick Santelli. “You have to use more dollars in your wallet because of inflation and savings rates starting to go down.” pic.twitter.com/yNeODFY2wW

— Squawk Box (@SquawkCNBC) April 1, 2022