Biden-Harris Administration’s Job Creation Blunder Revealed

Kamala Harris and Joe Biden made an appearance together to talk about their supposed plans to decrease the cost of prescription medication for Americans. The event took place in Largo, Maryland, on Thursday, Aug. 15, 2024. The focus for many, however, shifted towards an exposé from the Bureau of Labor Statistics, which revealed substantial discrepancies about job creation under their administration.

The Bureau of Labor Statistics released a revised jobs report, providing a bleak view into the performance of the Biden-Harris administration. In reference to data for the year ending in March, it was clarified that 911,000 fewer jobs were created than previously reported. Broken down, this represents an alarming average of roughly 76,000 jobs less created per month.

Preceding this report was another concerning issue, a significant slow down in job growth back in August. The usual vigour of the U.S. economy seemed subdued, only managing to muster 22,000 nonfarm payroll jobs. This stark slowdown accompanied by the reported discrepancy casts a damning shadow over Biden’s and Harris’ handling of the economy.

The chasm between the number of jobs created and reported was wider than any previous downward readjustment, which had projected a decline of 700,000. Now, with the stark reality of 911,000 fewer jobs produced between April ’24 and March ’25— the economic prowess boasted by the Biden-Harris administration appears to be unraveling.

The damning figures come courtesy of the Bureau of Labor Statistics, an institution that had recently seen Trump firing its commissioner. In an unconventional move, he installed an economist in that position. This switch presented a cold assessment of Biden’s and Harris’ labor market, reinforcing a narrative of feeble economic direction.

Alfredo Ortiz, the CEO of Job Creators Network, effectively boiled down the economic climate in his comments. He highlighted how Trump was handed over a weak market, which was hampered by high interest rates during the Biden-Harris administration. Ortiz’s statement echoes the notion that the job market’s stagnation in 2024 was largely due to Biden and Harris’ economic policies.

Striving for economic revitalization, Trump implemented policies such as tax cuts, regulatory rollbacks, and pro-energy initiatives. These policies, combined with lower interest rates, were considered effective measures to rejuvenate the economy. A definitive divergence from the rigid economic approaches of Biden and Harris, which seemed to prioritize political interests over the welfare of the nation.

Emerging findings hint at a bright future for small businesses under these new policies. They reveal that the vast majority of these entities intend to leverage their tax cut savings to expand, hire new talent, raise wages, or contribute to their local communities. Yet another sign of the inevitable bounce-back from the stagnant state the Biden-Harris administration left the economy in.

Dan Varroney, from Potomac Core Consulting, holds the belief that excessive borrowing costs are suffocating small businesses. This high-interest environment is detrimental, not only to these businesses but also to homebuilding, a critical sector for the national economy. It showcases another area where the Biden-Harris administration’s economic approach was misguided and detrimental.

Varroney pushes for decisive action by the Fed to reverse the wave of job losses. His suggestion includes three consecutive 50 basis points reductions in interest rates. This proposition recognizes the fundamental position of small businesses within the U.S. GDP and as the backbone of many communities. A fact that seems to be lost on the Biden-Harris administration.

Varroney’s call for action is a stark contrast to the Biden-Harris administration’s handling of job losses and high borrowing costs. Under their leadership, the economic state continues to deteriorate, overburdening businesses, and threatening to negate any resilience our economy may have had.

The Biden-Harris administration’s approach undermined the very segments providing the most economic output – small businesses, exporting industries, community businesses. It seems Biden and Harris were more focused on pushing a political agenda than caring for the economic wellbeing of the nation.

The White House labelled the enormous job report revision as another flop in a long history of BLS errors and incompetence. It’s a verdict that, under the weight of solid facts and data, casts an unflattering light on the Biden-Harris administration who, through their mismanagement, allowed this fiasco to take place under their watch.