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Biden and Republicans spar over unemployment as the jobs report disappoints.

admin by admin
May 7, 2021
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“The data shows that more workers are looking for jobs, and many can’t find them,” he said.

Asked directly by a reporter if he believed the enhanced benefits had any effect on the job gains, Mr. Biden replied, “No, nothing measurable.”

Administration officials stress that the monthly employment numbers are volatile and subject to revision and that the average gain over the last three months remains well above the pace of job creation that Mr. Biden inherited when he took office in January. They say any clogs in the labor market are likely to be temporary and that the recovery will smooth out once more working-age Americans are fully vaccinated.

“This is progress,” Heather Boushey, a member of the White House Council of Economic Advisers, said in an interview. “We are adding an average of over 500,000 jobs a month” over the last three months, she said. “That’s evidence that our approach is working, that the president’s approach is working. It also emphasizes the steep climb coming out of this crisis.”

Ms. Boushey and Jared Bernstein, another member of the council, both said they saw no evidence in the monthly report that expanded unemployment benefits were deterring Americans from going back to work. They pointed to a gain of 300,000 jobs in the leisure and hospitality sector and to a falling number of workers who told the department they had left the labor force out of concern over contracting Covid-19.

Ms. Boushey and Mr. Bernstein said it appeared the economy was working through a variety of rapid changes related to the pandemic, including supply chain disruptions that have hurt automobile manufacturing by reducing the availability of semiconductor chips and businesses beginning to rehire after a year of depressed activity from the virus.

“It’s our view that these misalignments and bottlenecks are transitory,” Mr. Bernstein said, “and they’re what you expect from an economy going from shutdown to reopening.”

The chair of the Council of Economic Advisers, Cecilia Rouse, stressed the potential uncertainties in interpreting data from the pandemic in a blog post analyzing the report. “There is often month-to-month volatility in the jobs numbers,” she wrote. “However, the same ‘amount’ of volatility is more striking when the volume of changes is larger, as it has been during the pandemic.”

Tags: BidendisappointsjobsreportRepublicanssparunemployment
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