USA, record employment and growing GDP
“Save Private Joe Biden from his successes” one might say reading the latest positive data on the American labor market and the stars and stripes GDP trend. After having won the war against inflation, now around 3%, after having increased the American GDP, employment is now also growing and for 36 consecutive months. In fact, 2023 ended, according to data from the Bureau of Labor Statistics, with an unemployment rate of 3.7% (practically no unemployment exists) and the creation of over 2.7 million jobs.
In the Biden three-year period, almost 15 million jobs were created, an absolute record. A workforce that, more than ever in this period, has been in balance between white and black workers. The causes are many but, first and foremost, the tax breaks and incentives (entirely chosen by the new President) which have attracted “monstrous” investments. Although many analysts imagined a more or less soft recession, the Bideneconomics made a splash by creating, in December alone, an impressive 216,000 new jobs. Much above analysts' expectations (170,000).
USA, many Americans are turning their backs on Biden despite his successes in the economy
But all this, strangely, does not seem to be enough to make the majority of Americans say a new yes to Joe Biden. The real enemies of soldier Biden, a veteran of many battles and with the last one in 2024 in sight, appear to be essentially four: inflation which has increased the prices that Americans face every day (inflation is falling but prices are not), a Donald Trump who floats like a cork on heavy legal cases, feeding his ego and his supporters with them, an image that of Biden of a man who is too old and stammers and finally an immigration which never before seems to be out of control.
It is true that inflation has been almost defeated before any other country in the world, but price increases have absolutely not been achieved and Americans feel this firsthand every day. The economy has grown soaring higher than ever before with aggressive interest rates but the American is not living well and expresses this discomfort in many polls.
Not only do many tests find that most would prefer Trump's return but what is surprising is that 56% of citizens do not agrees with the President's economic policy. A more unique than rare case. And this is why it would really take a squadron of cavalry to save the good soldier Biden and free him from a heavy image and external criticism, including the Achilles' heel represented by the legal troubles of his son Hunter.
USA, balanced employment between white and black workers
For its part, the Federal Reserve commented positively on the employment data, claiming that “The labor market remains lively, but supply and demand conditions are regaining balance. Strong job creation has been accompanied by an increase in labor supply. The activity rate has grown compared to last year, especially in the 25-54 age group, and immigration has returned to pre-pandemic levels.”
The White House on employment noted that 2023 saw the highest rate of working-age women since 1948. The previous high of 77.3% in April 2000 was surpassed for almost the entire year. “This group's record participation in the workforce has served to boost American family incomes and keep consumer spending strong.” And this too is a great success but it seems not to be recognized by the Americans as merit of the work of the Democrat who seems to be increasingly surrounded by direct and indirect enemies as well as by an age, also a record for a president.
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