Despite Poor Approval Numbers, Biden Crows Over Strong Economic Accomplishments
Unemployment is down and wages are up
Despite continuing doldrums with his approval ratings, President Biden used Friday's November jobs report to tout what has been a strong economic record of accomplishment for he and his administration.
The federal government reported that 235,000 jobs were created in the private sector last month, and recalibrations to jobs growth in recent months found that job growth over the prior two months, September and October, actually created 82,000 more jobs than had previously been reported, “which means that we’ve averaged nearly 400,000 new jobs a month over the last three months. A solid pace,” Biden said in remarks at the White House.
Notable is the steep dip in the US unemployment rate.
“This year, we can reflect on some extraordinary bit of progress. Our economy is markedly stronger than it was a year ago. And today, the incredible news that our unemployment rate has fallen to 4.2 percent,” Biden said. “At this point in the year, we’re looking at the sharpest one-year decline in unemployment ever. Simply put, America — America is back to work and our jobs recovery is going very strong.”
Biden credited much of the strength of the muscular economic rebound on passage earlier this year of his American Rescue Plan COVID recovery legislation.
“Unemployment is down to 4.2% three years faster than experts predicted. That's the American Rescue Plan at work,” Biden tweeted.
The drop in unemployment is producing another benefit, according to Biden: wage growth.
“But that’s not just jobs that are up. Wages are up, especially for hardworking Americans often ignored in past — in past recoveries. Workers in transportation and warehouses have seen their wages go up approximately 10 percent this year. Workers in hotels and restaurants have seen their wages go up 13 percent this year,” he said.
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