New Report Shows Biden Economy Surging Past Predictions

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So here is the deal. With President Joe Biden’s hard infrastructure bill could head toward the Senate any time. That means, Americans will finally start to see his promise of good-paying jobs paying off. This POTUS’ plans are all related to each other like intermeshing gears. Yes the pandemic put the brakes on the economy he inherited, but news about a new and better economy is coming in every day. Like this.

Our economy brought in 531,000 new jobs last month, The Associated Press reported. This made sense. Just look at the country’s supply chain. The bottleneck at major ports happened, because there were not enough truckers to haul the goods across the nation. So what happened? Trucking schools have been adding students like crazy.

Not only that, our unemployment numbers dropped, too, from 4.8 percent to 4.6 percent. Now, that did not reach the 3.5 pre-pandemic percentage, but it has been rapidly heading that way. It sure looked better the 6.3 percent in January, according to The Washington Post.

As the school-age children have been approved for the coronavirus shots, women can feel more comfortable about sending them back into the classroom. And that means they can also return to work instead of schooling their children from home.

During the pandemic, mothers may not have had any other alternative but to stay home. The job numbers showed that 251,000 adult women came back into the labor force last month.

The Bureau of Labor Statistics showed the anticipated August and September economic slump did not turn out as badly as economists anticipated. In the early months of the pandemic, March and April of 2020, we lost 20 million jobs. Now, all but four million of those jobs are back.

Labor economist at the University of Minnesota, Aaron Sojourner said:

‘It’s a strong jobs number for the month and changed the picture of the recent understanding of the labor market. The previous reports had seemed so low, but actually growth has been steadier than we understood. It’s progress and indicates the labor market recovering at a better pace than we knew.’

The Brookings Institution just released a report that indicated the labor market still favored men over women. Not only that, many of the job sectors most disadvantaged by the pandemic were weighted heavily toward women. In addition, the number of women choosing not to return to work after the pandemic experience is notable.

Brookings’ Stephanie Aaronson and Francisca Alba wrote the economic report that read:

‘As schools have started up with a universal return to in-person education, we may see a rise in the labor force participation rates of women with young children.’

‘That said, the outbreaks of covid-19 may discourage some mothers from returning to work, particularly those with unvaccinated children at home. Moreover, the quarantining that has occurred at some schools has generated considerable uncertainty, which itself may be a drag on women’s return to work.’

On average, the hourly wage increased once again, this time by 11 cents raising it to $30.96.


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