Job Creation Under Biden's Watch

it is too bad that you don't understand, an easy prey for the inellectual dishonest---but eye-catching---headline

just so you understand, recession is when the economic pie shrinks for 2 consecutive quarters, which has not happen since the end of the W admin.

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since Biden has taken office, despite inflationary pressures,

• job creation has been trending up every quarter,
• unemployment has been trending down and
• the GDP, the whole ecoomic pie, has been increasing every quarter

 

In Sept 2023,

US employers added a surprisingly strong 336,000 jobs, almost doubling the original forecast of 174K​

the unemployment rate remains unchanged at 3/8%; so too were labor participation rate and average hours works.

 

Late last week, however, the news on jobs/unemployment wasn’t quite as great as it’s been recently:

• the US economy added 175,000 jobs in April, slightly below expectation,
• as the unemployment rate inched up, from 3.8% to 3.9%.

The trust fund baby, or Donald 'Von ShitzInPantz' as called by Michael Cohen, reflexively slammed the data

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orange hair conveniently ignores the fact that

• he has been the only POTUS that had generated a net loss in job creation during the 4-year term and
• with 9 more months to go, Biden has alsready created ~~13 million jond
• the unrmployment rate when he was fired as POTUS was 6.4%, versus the current 3.9% under Biden

 

For May 2024,

Hiring Surges More Than Expected,​

Employers added 272,000 nonfarm payrolls in May vs. 180,000 forecast, according to FactSet

April hiring was revised down to 165,000 from 175,000

March hiring was lowered to 310,000 from 315,000

The unemployment rate rose to 4% in May from 3.9% in April

Average hourly earnings rose 0.4% in May vs. 0.3% forecast




That makes 41 consecutive months of job creation; cumulatively inching towards 14 million jobs under Biden'watch.


contrast that to his predecessor, the only POTUS to have generated a net loss in job creation

 

employers added 142,000 jobs in August 2024, fewer than economists had expected, which ensures a Sep rate cut by teh Fed.

that makes 44 consecutive months of positive job creation, to be > 16 million jobs created since Trump was fired by the American voters

Trump has been the only post-WW2 POTUS to have realized a net loss in job creation in his 4 yrs in office, losing more thant 2 million jobs

 

44 consecutive months of positive job creation under Biden; but the 12K jobs gained in Oct 2024 was Biden's lowest
Unemployment held at 4.1%, again dusproving the so-called "recession predictor", the Sahm's Rule.

U.S. economy added just 12,000 jobs in October,
impacted by hurricanes, Boeing strike
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this under-performance increases the chance of more Fed rate cuts !

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