The U.S. job market turned weaker last month, dashing hopes for an economic rebound.
A report from the Labor Department Friday shows employers cut 92,000 jobs in February, when economists had expected the U.S. would continue adding jobs, albeit at a sluggish pace. The unemployment rate inched up to 4.4%.
Job gains for December and January were also revised downward, with December now showing a net loss 17,000 jobs.
Someone had hopes of an economic rebound under this administration?
Coming out of the pandemic the US had one of the best looking economies. If he had done nothing he could have taken all the credit. Instead he decided to shoot himself and the country in the foot.
Idk if he shot himself in the foot. His family gained billions in net worth, and he’s still not in prison.
They definitely hamstrung the rest of us though.
You sure about that? A devastating health care crisis with life expectancy of an African country, poverty and violent crime rates 5-10 times higher than many industrialized nations, an employment rate more than 10 percentage points below the top countries, rampant homelessness, a staggering prison population, crumbling democratic institutions…
Above average, sure. The Trump admin made things significantly worse, sure. But if there ever was a time when the US had “one of the best-looking economies,” it was many decades ago.
Under Biden wages were growing faster than inflation, inflation was coming down, unemployment wasnt growing, stockmarket/business were doing well. Meaning things were doing okay and had the potential to do even better.
Also, a lot of the points you made aren’t directly tied to the economy and are systemic to the country. No matter how good the economy is doing, privatized Healthcare is going to cause issues.
In that case, what is “the economy” and why should I care?
That’s a fair call out. My comment about systemic issues was to address the fact that it’s somewhat unfair to compare apples and oranges. So when I said the economy was doing well under Biden, I meant in regards to the current systems in place in the US.
That being said, the economy is generally measured in how productive the country is. If the economy is doing good, then generally we have lots of people producing lots of things. That doesn’t mean we’re producing the right things though, as that comes down more to policy and public sentiment/behavior.
Systemic issues that have gone largely unaddressed (by Democratic admins) or have been exacerbated (by Republican admins). And the economy has suffered as a consequence.
In fact, several universal health care systems rely less on public health care spending than the US system does.