Officials Lower Expectations for Job Growth

Officials Start Lowering Expectations for Job Growth

( – Earlier this month, the jobs report for April left murmurs of disappointment in its wake. Predictions that our economy would create one million new jobs proved too optimistic — only 266,000 positions were filled.

Demand for labor isn’t the issue, as the number of job openings is roughly similar to the number of people without work. This has fueled speculation that the Democrats’ generous social benefits programs are to blame. Republican lawmakers have repeatedly questioned whether they should continue. Now, the Federal Reserve and the Dallas Fed are lowering job growth expectations.

Whatever the reason, it looks like this state of affairs is set to continue. On Friday, May 21, Dallas Federal Reserve President Robert Kaplan said the jobs report for May will likely be another disappointing one. A Dallas Fed employment forecast that came out on Friday echoed this, predicting slowing employment growth in the state of Texas.

Social benefits have kept many people’s heads above water throughout the pandemic. However, the pandemic is nearing its end, and if it’s true that people are so comfortable with benefits that they don’t want to work, something needs to change.

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