Staff Reports
In a recent report, the payroll processing company ADP revealed that the pace of hiring by private sector employers in the U.S. slowed down in January. Oh no, folks, it looks like Biden’s economy is tanking faster than his approval ratings!
ADP Says Private Sector Job Growth Slowed in January https://t.co/IMD35GRb7C
— villagealchemist (@AnneJor00635096) January 31, 2024
According to ADP, American businesses only added 107,000 jobs in January, down from the already revised down 158,000 in December. That’s like trying to run a race with lead shoes on – talk about a major slowdown, yikes!
The so-called “economists” over at Econoday predicted that there would be 145,000 new jobs in January, but it looks like they missed the mark once again. It’s like these so-called “experts” are just throwing darts at a board to make their predictions!
But wait, there’s more disappointment in store! The government is expected to release its preliminary estimate of January payrolls soon, and economists are anticipating nonfarm payrolls to only increase by 170,000, which is lower than the 216,000 reported for December. And private sector payrolls are expected to rise by a measly 142,000, even lower than the 164,000 in December. Oof, it’s like watching a sinking ship with no lifeboats in sight.
Now, ADP’s report claims that most of the job growth in January came from the leisure and hospitality sector, followed by transportation, construction, and health and human services. However, the information sector actually shed jobs, according to ADP. It’s like watching a game of musical chairs, but instead of finding a seat, people are getting handed pink slips left and right.
So, there you have it, folks – Biden’s economy is showing signs of trouble, and it looks like things are only getting worse. Let’s hope the government can get its act together and turn this sinking ship around before it’s too late!
