Former Home Depot CEO clears the smoke from Biden's 'deceptively correct' jobs report
The US added 206,000 new jobs, a third of them being in the Government sector.Economic experts are sounding the alarm on the Biden administration's "deceptively correct" June jobs report, warning Americans that the labor market is not as "bright or rosy" as Democrats want voters to think.
"I call that number, Cheryl, deceptively correct. As you pointed out, every month it gets adjusted. So the 206,000 jobs, again, Steve [Moore] is right. The second-largest employer last year was the government. And they're back on the same track again this year. There is no GDP generated by government jobs," former Home Depot CEO and former Chrysler Chairman Bob Nardelli said Friday, setting the record straight during an appearance on "Maria Bartiromo's Wall Street."
"Inflation is like carbon monoxide. It's the silent killer that's creating job problems in the quality of life. It is pervasive. People are still using dynamic pricing, Steve, to your point, and we're continuing to suffer under reckless spending. It's causing these problems in our economy. It's stressing the fault lines in our economy. And whoever gets in that white House next year is going to be hit with a wrecking ball to try and pull this back," Nardelli continued.
FreedomWorks senior economist Steve Moore supported Nardelli's eye-opening assessment, arguing that he does not "buy" the Biden administration's characterization of the U.S.'s "hot" job market.
"I think we've definitely shifted into a lower gear," Moore warned on Friday. "I'm not saying we're headed to a recession, but I am saying the economy is slowing down a lot, and we're seeing that both in some of the GDP numbers and also in the employment numbers."
Former Home Depot CEO clears the smoke from Biden's 'deceptively correct' jobs report
Former Home Depot CEO Bob Nardelli and economist Steve Moore react to June's job report, arguing that the better-than-expected report may be slightly deceptive.
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