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The ADP National Employment Report released this week shows that U.S. companies hired fewer people last month than experts thought they would.

According to economists polled by Refinitiv, jobs would slow down in September but still reach about 153,000. The job report said the real number was 89,000, which was more than 60,000 less than what was thought. Fox Business says that the number of fresh hires in September is less than the 180,000 that were made in August.

The fewest people were hired in September, the fewest since January 2021. The slow performance is due to the fact that interest rates are still high because the Federal Reserve is making efforts to curb inflation.

“This month, the number of jobs is going down even more,” said Nela Richardson, head economist at ADP, according to Fox Business. “On top of that, wages have been steadily going down over the past year.”

The Federal Reserve may be happy with the slow hiring month, but the slowing economy is not likely to help the White House sell its economic plan to voters as President Biden prepares to run for reelection in 2024. “Bidenomics,” Biden’s economic plan, has been pushed by the White House as a way to improve his poor rating with voters on the economy. The president is still very unpopular with people when it comes to this problem, though.

A lot of people believe the Republican Party more than the Democratic Party when it comes to handling economic problems, according to two recent polls. In all of them, the Republican Party had the biggest lead on the topic in decades.

Gallup polled people from September 1–23 and found that Republicans had a 53% to 39% advantage over Democrats on the matter in question and a 44% to 36% advantage over Democrats on the problem that each person deems “most important.” It was the biggest economic lead for the GOP since 1991.

A study from NBC News that came out last week showed the same thing. An overwhelming majority of people (49% to 28%) believe that the Republican Party is capable of handling the economy better than the Democratic Party. Once more, the poll showed that the GOP had the biggest lead on the subject since 1991.

A number of the president’s friends want him to cease spreading the “Bidenomics” message because the economy isn’t doing as well as it should be. They say that having Biden’s name attached to an unpopular problem doesn’t help Biden’s popularity with voters.

Will Marshall, President of the Progressive Policy Institute, stated that “Bidenomics does not have strong solutions to people’s greatest worries at this point. The White House should be giving a lot of thought to how they make their argument for the positive economic effects that this government has brought about.”

Author: Blake Ambrose

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