Americans are paying the highest prices in 40 years and know the economy is not “on the move” — despite what President Biden claims. Worse, as the New York Post editorial board writes, all jobs now come with a pay cut:

“All jobs now come with a built-in pay cut that’s only going to get worse unless the prez changes course. Worse, employment will crater if he gets the tax hikes he proposes. […]

“In February of 2020, the nation had around 152.5 million total nonfarm employees (the highest number ever). Then came the pandemic, which chopped that number down to near 130.5 million. 

“We’ve since been creeping back up to where we were before — and creeping more slowly as Biden’s policies took effect. And we’re still not there yet: The latest count is 150.9 million total nonfarm employees.”

CLICK HERE to read the full editorial.

In January, ADP Economist Nela Richardson poured cold water over the Biden Administration’s claims of historic job creation noting that President Biden hasn’t in fact created new jobs:

“The economy – and this is an important point – hasn’t added one single job from the 2019 high watermark. Not one. All the jobs that we have seen gained are recovered jobs that were lost. We are not yet producing new jobs.”

“In fact, we’re still about nearly four million jobs short. So these wage gains are coming on top of a shrinking workforce, and it’s not being fueled by productivity enhancements.”

KEY BACKGROUND:

• Democrats’ so-called “COVID stimulus” failed to create any of the promised four million jobs, according to a study from the American Enterprise Institute (AEI).
• Worse, President Biden is doubling down on crippling tax hikes that would destroy another over a million jobs, slash paychecks for workers, and shrink the economy by $100 billion over the next decade.
• With skyrocketing inflation outpacing wages, workers continue to take the hit of Democrats’ proposals. 

Experts are warning the U.S. is heading for a recession and on the verge of, or already in, a wage-price spiral.