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“With Their Broad Mandates That Fail to Allow Businesses and Entrepreneurs to Create Jobs, Biden and Harris Are Great at Increasing Economic Instability”
Washington, D.C. – The employment report issued today by the federal government disappointed black conservatives who see the nation’s rising unemployment rate and stagnant level of workforce participation as indicators of the Biden Administration failing to stabilize and grow the American economy.
Members of the Project 21 black leadership network particularly criticized White House policies that result in high black unemployment, which remains well above average and twice the white unemployment rate.
“There’s an old saying that you can wrap a rotting fish in gold paper, but it doesn’t mean it’s now a fresh fish. It still stinks, and no amount of spin will change that reality. The January jobs report is functionally the same,” said Project 21 member Michael Austin. “While showing a gain above expectations, a simple peek past its gilded veneer reveals too many signs of weakness and stagnation, like a bad stench.”
January’s jobless numbers – issued today the U.S. Bureau of Labor Statistics – show that the overall unemployment rate rose by one-tenth of a point during the first month of the year to four percent. While more jobs than expected were created, the workforce participation rate remained unchanged at 62.2%. This is more than a full point less than two years ago, and less than a point more than last January. The total number of unemployed and discouraged Americans who are no longer seeking employment remained unchanged at 4.9%.
“Beyond the headline of roughly 467,000 jobs created, Americans – especially black Americans – are still not markedly better off,” Austin added. “Joe Biden’s policies still can’t return black unemployment to its lowest levels in recorded history. We still need to gain 5 to 7 million jobs just to recover from COVID lockdown policies, and American purchasing power is falling because January wage gains aren’t high enough to overcome seven percent inflation.”
“This is just another clear sign of the failed Biden-Harris Administration’s economic policies,” said Project 21 member Greg Parker. “With their broad mandates that fail to allow businesses and entrepreneurs to create jobs, Biden and Harris are great at increasing economic instability. This is not what the American people need.”
In the black community, the overall jobless rate declined by two-tenths of a point. Unemployment among black men rose by one-tenth of a point to 7.1% – more than double the rate for white men and 2.8 points more than that of Hispanic men. Black teen unemployment was an outrageously high 20.7%.
“With this kind of ‘leadership,’ it’s not surprising that President Biden’s approval ratings continue to fall – even among black Americans,” said Project 21 member Derryck Green. “This jobs report was a surprise to the White House, which was already planning to blame omicron for another bad month. It likely will not inspire Americans’ confidence in the economy. Biden’s reluctance to change from a perpetual pandemic mentality to one that learns to live with an endemic prevents the kind of economic expansion our nation desperately needs.”
“The purpose of healthy economic activity is more than just job gains,” said Austin. “Its purpose is to make its participants wealthier than participating in any other alternate activity. The fact that millions of Americans still sit on the sidelines, while many indicators aren’t improving, suggests that engaging in Biden’s planned economy reeks of a bad deal.”
To schedule an interview with a member of Project 21 on this or other issues, contact Judy Kent at (703) 477-7476.
Project 21, a leading voice of black conservatives for over 25 years, is sponsored by the National Center for Public Policy Research. Its members have been quoted, interviewed or published over 40,000 times since the program was created in 1992. Contributions to the National Center are tax-deductible and greatly appreciated, and may be earmarked exclusively for the use of Project 21.
Founded in 1982, the National Center for Public Policy Research is a non-partisan, free-market, independent conservative think-tank. Ninety-four percent of its support comes from some 60,000 individuals, less than four percent from foundations and less than two percent from corporations. Sign up for email updates here.
Follow Project 21 on Twitter at @Project21News for general announcements. To be alerted to upcoming media appearances by Project 21 members, follow our media appearances Twitter account at @NCPPRMedia.
Author: The National Center