Pollak: Strong January Jobs Report Kills ‘Build Back Better’ All Over AgainJoel B. Pollak 4 Feb 2022
The unexpectedly strong January jobs report, in the middle of the omicron surge in the coronavirus pandemic, makes it clear that President Joe Biden’s signature spending plan, “Build Back Better,” is unnecessary and arguably inflationary.
Sen. Joe Manchin (D-WV) already stopped the legislation in December by declaring that he opposed it, but the administration hoped to woo him back with less expensive or piece-by-piece proposals, which the Biden administration said would create jobs.
It turns out that the American people are better than their government at creating those jobs. The January report came in at 467,000 jobs, beating expectations of about 150,000, and adjusting previous months upward, for a total of 700,000 jobs created.
Unemployment rose slightly, from 3.9% to 4.0%, but that was a result of people coming back to the labor force. The U.S. economy defied the omicron variant: people decided to move ahead with their lives, and everyone gained as a result.
It is notable that the jobs gains came in spite of the Biden administration’s two main economic policy pushes: massive new government spending, and vaccine mandates in the workplace. Manchin stalled the former, and the U.S. Supreme Court tossed out the latter.
While Biden and his surrogates will try to claim credit for the hiring bonanza, the truth is that the best thing that could have happened to the administration was that the filibuster held in the Senate and their agenda stalled.
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https://www.breitbart.com/economy/2022/02/04/pollak-strong-january-jobs-report-kills-build-back-better-all-over-again/
