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Economy

Jobs report disappoints estimates with 194k new jobs, 0.4 decrease in unemployment

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The United States’ jobs report saw over 194,000 new nonfarm payrolls in the month of September. However, economists surveyed by Refinitiv expected to see 500,000 new jobs.

September was also the first month without the $300 per week in supplemental unemployment benefits. Yet, unemployment only dropped by 0.4%. Those same economists expected it to drop by over 5%. There are still 7.7 million unemployed Americans.

President Biden reacted to the report in a press conference Friday. According to him, the report showed improvement. “In total, the job creation in the first eight months of my administration is nearly five million jobs,” Biden said. “Jobs up, wages up, unemployment down. That’s progress.”

Meanwhile, the U.S. Bureau of Labor Statistics also reported that Americans born in the early 80’s with are working from home more. The higher the education level, the more likely they were to work from home.

You can follow Jenny Goldsberry on Twitter @jennyjournalism.

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Economy

TX Federal Judge takes ‘extraordinary’ step to ‘fast track’ ruling on Biden’s student loan forgiveness, forego trial

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cash stimulus for coronavirus

Just The News reported on an “extraordinary move” by one Texas judge who is prepared to cancel President Biden’s student loan debt forgiveness payments.

U.S. District Judge Mark T. Pittman, a Trump appointee, says he is ready to decide the merits of Biden’s plan and skip the preliminary injunction and customary trial.

“U.S. District Judge Mark T. Pittman had been holding a hearing on a request from the small business group Job Creators Network’s legal arm on behalf of two plaintiffs to issue a preliminary injunction blocking Biden from enacting the debt relief until the legality of his executive order was decided” Just The News reports.

However, Pittman declared “in a five-sentence, one-page order that the government and plaintiff lawyers had made all the necessary arguments and that a trial would not elicit further evidence so he is ready to move to a judgement on the merits of the case.”

“Having held a hearing on Plaintiffs’ Motion for Preliminary Injunction and reviewed the related briefing, the Court intends to consolidate as it appears that the Parties have presented their case and no evidence of significance would be forthcoming at trial,” wrote Pittman.

Pittman said he was prepared to advance the preliminary objection request “to a determination on the merits” and gave the Justice Department and plaintiff lawyers until Friday to file any objections to his plan.

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