Posted 12/26/2023, 10:00:00 AM
Biden's Jobs Boast Obscures Lingering Economic Concerns
- Biden boasts of creating over 14 million jobs, but 9.4 million are just recovering pandemic losses; only 4.7 million net new jobs created
- Half of 2023 job growth has come in unproductive government and healthcare sectors
- Private sector wage growth stagnant, not keeping pace with inflation
- Terrible economic polling numbers indicate public does not see labor market as strong as Biden claims
- Despite Fed interest rate pivot, economy still faces challenges like high costs and debt levels