A large number of Americans took on part-time jobs in May as full-time jobs disappeared under President Joe Biden’s economy, as per data from the Bureau of Labor Statistics (BLS) released on Friday. In May, approximately 133.3 million people were employed full-time in the U.S., which is 625,000 fewer than the previous month, according to the BLS.

Meanwhile, the number of part-time workers increased by 286,000, reaching just over 28 million. Overall, the total number of American workers decreased by 408,000, bringing the workforce down to 161 million. Despite a decrease in the number of people employed, the economy added 272,000 new nonfarm payroll jobs in May, with the unemployment rate rising to 4.0%.

Job gains in the month were driven by a 68,000 increase in the healthcare sector and increases of 43,000 and 42,000 in the government and leisure and hospitality sectors, respectively. In May, the number of foreign-born workers employed in the U.S. surged by 637,000 year-over-year, reaching nearly 32 million, according to the BLS. Conversely, the number of native-born workers declined by nearly 300,000.

Much of the job growth under the Biden administration has benefited foreign-born workers, often at the expense of native-born workers, with illegal immigration contributing to the increase in overall job numbers.

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Global capital markets-focused The Kobeissi Letter noted the discrepancies in an X post: ” Something doesn’t add up here: All of the headlines say that the US economy added 272,000 jobs in May. However, when you dig deeper into the data you can see that full-time employment actually FELL by -625,000. Meanwhile, part-time employment rose by 286,000 along with the unemployment rate to 4.0%. This is the biggest drop in full-time employment since December 2023. It’s also the first month with 4.0%+ unemployment since February 2022. How is this a ‘strong’ labor market?”

The Daily Caller noted further:

Around 433,000 people left the labor force in May compared to the month before, with 100,000 of those being discouraged workers, according to the BLS. The number of people holding multiple jobs increased by 16,000 in the month to just under 8.4 million.

The economy has shown signs of slowing in recent months, with gross domestic product growth in the first quarter of 2024 being revised down from 1.6% to 1.3%. The Federal Reserve Bank of Atlanta revised down its estimate for second quarter growth from 4.2% at the start of May to just 1.8% as of June 3.

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Biden has recently had additional bad economic news.  In April, consumer spending in the U.S. increased by 0.2% before inflation adjustments but effectively fell after accounting for inflation. Most spending was directed towards necessities like rent, utilities, medical care, gas, and insurance, leaving less available for discretionary items such as travel, recreation, and consumer electronics.

There was a noticeable decline in recreational spending. Additionally, high interest rates and monthly payments have slowed car sales, prompting dealers to lower prices or offer better incentives to attract customers, MarketWatch reported.

Disclaimer: This article may contain commentary which reflects the author’s opinion.