Democrats are deploying every smoke and mirrors trick in the book to pretend they didn’t just wreck the economy.
But the truth is leaking out.
And there’s one number Joe Biden and Friends desperately want you to miss.
US labor productivity just tanked with the biggest drop on record this past quarter.
The non-farm business output dropped by 4.6% in the second quarter of 2022.
That stacks on top of the 7.6% drop in the first quarter of the year.
It’s the most significant loss ever recorded — even with records going clear back to the first quarter of 1948.
While the Biden administration is frantically trying to redefine the word “recession,” these numbers show how dire the situation is in reality.
The current economic disaster is clearly being driven by a giant dose of Bidenflation with labor costs over the past year rising by 9.5%.
It’s no surprise productivity is tanking.
Over the past year “The Great Resignation” has morphed into “The Great Regret” according to polls and surveys as Americans struggle to deal with the fall out of draconian lockdowns — especially in blue states and big cities.
Job search site The Muse “found that almost three-quarters of them (72 percent) experienced either ‘surprise or regret’ that the new position or new company they quit their job for turned out to be ‘very different’ from what they were led to believe. Nearly half (48 percent) of these workers said they would try to get their old job back,” according to the Guardian.
Problem is, that’s not possible.
In all too many cases their old jobs likely don’t exist.
When leftist central planners seized control during the pandemic they literally broke the systems the global population depended on for stability.
Now the length of time required for recovery continues to stretch out farther as the inflationary cycle continues to have an ever more broadening impact.
And with labor productivity making the biggest plummet in more than 74 years, chances are the dramatic ripple effect from our current economic woes will only continue to grow.
Up until now, Joe Biden’s performance has been constantly compared to Jimmy Carter’s dismal performance, but this new labor productivity report blows that out of the water.
The Biden Administration’s failed economic policy is generating some of the worst results in the history of this country.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.
