How do you turn good news into really, really bad news? Ask Nancy Pelosi how.
The Democratic House minority leader recently put the negative spin on June’s job report, despite the fact that it was incredibly positive for two Democrat voting blocks she’s desperately trying to keep a hold of — black and Hispanic families.
According to CNS News, the unemployment rate for working-age Hispanic and Latino people is at 4.6 percent, which is the lowest it’s ever been since the U.S. Bureau of Labor Statistics started collecting data in 1973. That record rate is also about half of what the average unemployment rate was during President Obama’s administration.
Last month, the May jobs report showed that black unemployment had dropped to 5.9 percent, the lowest since data tracking began in 1972.
Overall, the June jobs report was strong, showing that the “economy keeps adding jobs at a blistering pace,” CNN Money. The unemployment rate for everyone went up marginally to 4 percent in June, but CNN said it still “reflected a healthy economy” because “many people who had previously given up looking [for work] are starting again.”
But Pelosi only saw doom and gloom, writing in a statement that “June jobs numbers show what is at stake from the brewing storm of rising health costs, spiraling trade uncertainty and an economy being hollowed out to enrich big corporations and the wealthiest 1 percent.”
“Six months after receiving their windfall from the GOP tax scam for the rich, Corporate America is on track to spend $1 trillion on dividends and stock buybacks, while announcing tens of thousands of layoffs, refusing to give workers a raise and raising costs for families,” she wailed. “Meanwhile, hard-working farmers, factory workers and families across the nation are reeling from retaliatory tariffs and trade uncertainty.”
CNBC also bemoaned a U.S. labor shortage that “is approaching epidemic proportions.”
What labor shortage is this, you might ask?
Apparently, so many people have jobs now that employers are having a hard time filling openings. Most people would actually see that as a good thing.
Also, employers are having trouble finding qualified workers because of “a skills mismatch as the economy edges ever closer to full employment.” That sounds like a problem of people not attaining the right schooling or training for today’s job market. It’s not a problem brought on by President Trump or Republicans.
Plus, the labor shortage should be a boon to perturbed Pelosi and her worries about low wages.
According to CNBC, “Economists expect that employers are going to have to start doing more to entice workers, likely through pay raises, training and other incentives.”