Lubbock Times

WASHINGTON, D.C. – Today, the Bureau of Labor Statistics (BLS) released its jobs report for April 2024, which showed 175,000 new jobs were created in April, down from 315,000 in March.

In response to the worsening job numbers, House Budget Committee Chairman Jodey Arrington (R-TX) stated, "It’s no surprise that the job market has slowed, adding 140,000 less jobs in April than the previous month. President Biden’s and Congressional Democrats’ fiscal policies and reckless spending have stalled the economy. Inflation is on the rise, GDP growth is significantly lower than expected, and consumer confidence is at the lowest it has been since July 2022. Sadly, this has become the new normal for millions of American families."

The report revealed that the unemployment rate rose to 3.9 percent in April, with 6.5 million people unemployed, up from a 3.8 percent unemployment rate in March, with 6.4 million people unemployed. The labor force participation rate remained at 62.7 percent in both March and April.

The economy under President Biden was described as being "on a downward spiral" by an unnamed source. The source also attributed the stubborn inflation to the Biden Administration’s "reckless tax and spending spree."

The House Budget Committee is expressing deep concern over the troubling economic indicators, citing issues such as plummeting consumer confidence, stubborn inflation, and sluggish GDP growth. This is seen as a clear mismanagement of the economic stewardship of the country.

The current economic situation is raising alarms among both House Budget Committee members and taxpayers, highlighting the need for a reevaluation of fiscal policies to address the challenges faced by the economy.