American families are feeling the pressure from increased prices as worker shortages hobble supply chains and businesses. Massive federal spending will only make things worse.
Q3 2021 hedge fund letters, conferences and more
WASHINGTON, D.C. — This morning, the Bureau of Labor Statistics announced that only 194,000 jobs were added in September, as the labor market struggles to recover despite schools having reopened for in-person learning and government disincentives to work having come to an end. The overall unemployment rate fell 0.4 percentage points to 4.8%, as jobs growth fell far below expectations of 488,000 jobs. The unemployment rates for adult women fell to 4.2% in September as over 380,000 women left the labor force.
September's Dismal Jobs Report
Patrice Onwuka, director of the Center for Economic Opportunity at Independent Women's Forum, issued the following statement:
“Today’s dismal jobs report reveals an economy that cannot rebound because there are too many open jobs and too few people to fill them. Instead of workers rejoining the labor force as we would expect with reopened schools and other facilities, the labor force is shedding men and women at a concerning pace. The share of women with a job or actively looking for a job — the women’s labor force participation — is falling again after recovering from pandemic lows last year.
“Another poor jobs report is exactly why Washington should reject another $3 trillion of reckless spending that expands the welfare state but undermines the American work ethic and American business. Worker shortages are slowing the production of goods and essentials amidst rising demand. American households will end up losing any pay gains to more inflation that is already a burden.”
About the Independent Women’s Forum
Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended, but actually enhance people’s freedom, choices, and opportunities.
