(PresidentialWire.com)- June was a good month for the United States – but not as good as it could have been. Data from the Labor Department showed that American companies hired the most workers in 10 months in June 2021, with wages going up and incentives being increased to encourage millions of unemployed people to get back to work.
Already-struggling businesses would not have been forced to lose even more money by offering huge incentives, including sign-on bonuses and free iPhones (yes, really), had the federal government stopped providing additional income support even as the job market was crying out for new employees.
It turns out that incentivizing people to stay home means more people…don’t want to go back to work.
Funny how that works, huh?
According to the Labor Department, some 151,000 Americans re-entered the workforce in June. However, the bad news is that the proportion of working-age American citizens who either have a job or are actively searching for one didn’t change since the same month last year.
It means there is definitely an increase in hiring, but there are still millions of Americans out there not in work…and not necessarily because they can’t find work.
The second quarter of this year has some momentum, but there needs to be an improvement.
Nonfarm payrolls increased by 850,000 in June this year, and a further 15,000 new jobs were created in April and May than were previously reported. Employment nationally is also 6.8 million jobs below the peak in February 2020, during the Trump administration.
All President Biden needed to do in order to benefit from the strength of the economy forged by former President Donald Trump’s tax cuts was to allow the economy to get back to work. That means stop encouraging people to stay at home and letting businesses…do business.
So why won’t he do that?
