Record-Breaking Accomplishments On Jobs And Unemployment Under Biden
Record-Breaking Accomplishments On Jobs And Unemployment Under Biden
May's jobs and employment report show a record-breaking run of good economic news under President Biden
The Biden Administration’s robust and durable track record on jobs and unemployment is breaking records, putting up some of the best results we’ve seen in half a century.
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Isn't low unemployment a "despite the Biden administration" thing? Wasn't that the whole point of the interest rate hikes to "cool off" the economy (I.E. increase unemployment). Am I missing something?
The President has no power over the interest rate. The interest rate is set by the Federal Reserve.
Agreed, presidents can apply pressure but the Fed is technically independent. That probably wasn't fair of me to link Biden to the Fed, sorry. Dems are quick to attribute this gain to the Biden administration. I've heard broad statements about how Biden is good for the economy, but they don't really go into specifics. I'm curious what they're specifically saying he's done to boost the economy to the point that it invalidates Fed interest/employment/inflation models.
Yes you are missing the fact that the president's policies have a major effect on the economy.
What specifically is he doing that is creating jobs? As of February new jobs are being driven by healthcare jobs. There are several other types of work before you get to construction, which could plausably be linked to infrastructure spending. And again, that's held to against the interest rate hikes that are designed to lower inflation by increasing unemployment, or the more appropriate euphomism of softening the labor market.