Biden killed the incentive to work

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Last week, the government reported that in May, 9.3 million people were jobless.

This week, the government reported there are 9.3 million job openings.

Problem solved, right?

Wrong.

For every job filled, two more unfilled jobs were added.

Last week's unemployment report said, "In May, the unemployment rate declined by 0.3 percentage point to 5.8%, and the number of unemployed persons fell by 496,000 to 9.3 million. These measures are down considerably from their recent highs in April 2020 but remain well above their levels prior to the coronavirus pandemic (3.5% and 5.7 million, respectively, in February 2020)."

That meant 469,000 jobs were filled.

Today, CNBC reported, "Job openings in April soared to a new record high, with 9.3 million vacancies coming as the economy rapidly recovered from its pandemic depths."

That was up from 8.1 million unfilled jobs in March, an increase of more than a million jobs unfilled.

That means when May began, there were 9.3 million jobs open, but less than a half-million of them were filled by month's end.

We could easily be at 3.5% unemployment again, if enough people went back to work. Heck, if every job were filled, unemployment would be at zero. 

But people are not taking those jobs because the government's safety net makes a pretty good hammock. Most states still offer that $300-a-week federal unemployment bonus. People realize they can do just as well sitting on the couch as they can going to work and paying taxes.

That unemployment bonus was supposed to last only as long as the pandemic did, but Democrat and RINO governors continue the bonus even after the crisis is over.

And Josef Biden allows this.

By every other measure, the economy recovered from the pandemic. The gross domestic product expands. The stock market is at record highs. Wages are rising.

But unemployment remains high because a record 9.3 million job openings are unfilled.

I get that even in the best of times, there are job vacancies. Employers needed welders and other skilled workers, but the United States keeps producing women's study majors, who would rather read about Rosie the Riveter than become her..

The mismatch of job skills was a major reason why we had 5.7 million job vacancies (and 3.5% unemployment) under President Donald John Trump.

Under Josef Biden, we have 9.3 million job vacancies and 5.8% unemployment.

Blaming low wages is an excuse, not an explanation. Under President Trump, wages were slightly lower but unemployment was way lower.

Josef Biden has artificially inflated labor costs by competing with the private sector by offering people more money to stay home.

It is crazy. It cannot last. And should the economy collapse under the weight of all this waste, the people hurt most will be those in the hammocks.

That's the article: Biden killed the incentive to work

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