The Lawrence Summers on poor jobs report
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The country added just 266,000 jobs in April, more than 700,000 fewer than the consensus prediction of economists. Biden said the enhanced benefits didn’t have a “measurable” effect on the April numbers, and pointed out that there was an increase in job seekers last month.
Former Treasury Secretary and Obama administration economic director Lawrence Summers disagreed.
“Respectfully, I think it is close to self-evident that the fact that people are being paid more to stay at home than they would be to work -- in millions of cases -- is reducing the available supply of labor,” Summers said in an interview with Bloomberg TV, for whom he is a paid contributor.
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@loki said in The Lawrence Summers on poor jobs report:
Biden said the enhanced benefits didn’t have a “measurable” effect on the April numbers, and pointed out that there was an increase in job seekers last month.
Add this to the ever-burgeoning list of lies Biden has told America. More blood of dishonesty on the hands of Biden supporters. I feel so sorry for them.
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The solution (I have been told) is for employers to offer higher wages.
Almost feels like extortion...
