Biden Touts Economic Gains But Faces Lingering Challenges

Inflation has fallen from a peak of 9% to 3% under Biden, but he may be partially responsible for the initial spike due to pandemic spending.

Unemployment is at 50-year lows of 3.4%, with nearly 15 million jobs added under Biden, but many of those are jobs regained after pandemic losses.

Wage growth has increased, benefitting workers.

The Inflation Reduction Act that Biden touted is expected to have little near-term impact on inflation.

Employment rates still lag pre-pandemic levels, standing at 60.2% vs. 61.1% in February 2020.