‘My shotgun's waiting for the wolf’: Biden gets fairytales wrong in 'Goldilocks' job report comment

Joe Biden claimed that jobs were 'added every single month of my presidency' and that 'our jobs recovery remains strong'

‘My shotgun's waiting for the wolf’: Biden gets fairytales wrong in 'Goldilocks' job report comment
President Joe Biden uses 'Little Red Riding Hood' reference in relation to the Goldilocks report in his latest speech in San Diego (Chip Somodevilla/Getty Images)
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SAN DIEGO, CALIFORNIA: President Joe Biden jokingly said that he has a "shotgun" waiting for the "wolf" referring to media reports calling the October jobs data a "Goldilocks report". Biden seems to have confused the stories of two fairytales in Goldilocks and Little Red Riding Hood.

During talks on the CHIPS Act on Friday in San Diego, Biden noted, "New York Times reports, media reports, they call the report the Goldilocks report." He said, "I have my shotgun waiting for the wolf." The president's fairytales appeared to be mixed up. Three bowls of porridge—one too hot, one too cold, and one just right—are consumed by the girl in Goldilocks and the Three Bears. Meanwhile, the story of a small girl and a wolf is called Little Red Riding Hood. He misidentified the media organization that called it the "Goldilocks report" and it was actually CNN. “It was a Goldilocks outcome for the White House – a number that’s not too low, but not too high,” CNN wrote.  

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U.S. President Joe Biden delivers remarks after touring Volvo Group Powertrain on October 07, 2022 in Hagerstown, Maryland. Biden's remarks about the economy highlighted his administration's efforts on
US President Joe Biden misinterpreted the Goldilocks reference (Photo by Chip Somodevilla/Getty Images)

The Bureau of Labor Statistics said that the nation's payrolls increased by 261,000 in October, continuing the strong labor market. However, the unemployment rate increased to 3.7% from a five-decade low of 3.5%. The consumer price index is currently running at 8.2 percent, a 40-year high for inflation and the Federal Reserve has moved its focus away from low unemployment and toward slackening price increases in order to calm the economy. President Joe Biden claimed that the results were encouraging ahead of next week's midterm elections because they exceeded expectations. He claimed that jobs were "added every single month of my presidency" and said that the report "shows that our jobs recovery remains strong."

However, Biden seems to agree that increasing the payroll does not prevent price increases from occurring. “I will never complain about too many good jobs in America,” he said in his speech that was transcribed by Daily Mail. “My father would come down from heaven and strangle me - too many people finally having dignity in the workplace.” In addition, average hourly earnings increased by 4.7% from a year earlier and 0.4% for the month of October, showing that wage growth is still likely to put pressure on inflation. As the Federal Reserve raises interest rates in an effort to control the rising inflation that has caused the cost of living to soar, economists had anticipated that 205,000 jobs would be added last month.

The Federal Reserve wants wage growth to level off and employment growth to slow down without plunging the nation into a recession. As opposed to that, 263,000 jobs were added in September and October's job numbers increased at around the same rate. There were around 1.9 job openings for every unemployed worker in the month as reported by Daily Mail. Although consistent hiring, strong salary growth and a low unemployment rate have been beneficial for employees while the rise in the interest rate to 8.2 percent has increased the cost of food, energy and housing. Inflation and the economy have consistently ranked as voters' top concerns. They criticize President Biden's handling of the situation. Democrats fear that their fury will cost them on November 8th at the polls.

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