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Bracing for Biden Recession, Job Creators Are Tightening Belts

Ahead of Friday’s jobs report, hiring has slowed in Main Street businesses from Georgia to Pennsylvania
October 6, 2022 — 'Inflation Reduction Act'    — Bidenflation    — Blog    — Press Releases    — Talking Points    — The Jobs Search   

In Biden’s cruel economy, there is little optimism for a good jobs report this Friday, as more businesses brace for a Biden recession. 

With Biden-Flation delivering the steepest pay cut in 25 years, job creators are tightening their belts. A recent report from the Federal Reserve highlights just a few examples of how more Americans could soon be out of the job:

  • In Atlanta: Local business owners have “begun to shrink headcount […], reduce open positions, and fill positions more slowly.” The report went on to note that job creators are also “anticipat[ing] layoffs amid slowing demand later this year and into next year.”
  • In Philadelphia: Since earlier this summer, “hiring freezes have increased.”

More than half of chief executive officers (CEOs) surveyed by CNBC are considering layoffs in the next six months, with the vast majority anticipating a “severe” recession soon.


Prompted By Recession Fears, More than Half of Top Job Creators Are Considering Layoffs

  • More than 90 percent of chief executive officers (CEO) believe there will be a recession in the next year, according to a recent survey. Only a third believe it will be a “short” or “mild” recession. 
  • More than a third of CFOs surveyed by CNBC believe the U.S. is either already in a recession or will be in one before the end of the year. 
  • With Biden-Flation accelerating, at least 77 percent of small business owners fear prices will only continue to go up.

READ: POLL: Top Job Creators Say Biden-Flation Hasn’t Peaked Yet

Families Are Falling Behind With Accelerating Biden-Flation 

  • More than half of American workers’ paychecks have fallen behind – the highest share of workers since 2011, the last time President Biden was in the White House.
  • Biden-Flation has shrunk workers’ paychecks by nearly nine percent – the steepest pay cut in 25 years, according to analysis from the Dallas Federal Reserve. 
  • With a majority of workers stressed about their finances amid rising prices, more than 20 percent report they’ve tapped into emergency savings to pay their bills, while another 20 percent report working extra hours. 

WATCH: Brady: Biden-Flation Eats Away An Entire Month of Americans’ Paychecks and It’s Not Going Away

Republicans’ Commitment to America Means a Stronger Economy

  • From making the historic GOP tax cuts permanent, to rolling back burdensome federal regulations, Republicans are committed to creating a stronger economy for American workers.

WATCH: Brady: Locking in Lower Taxes is Exactly What America Needs Right Now