When it comes to jobs, President Joe Biden leaves Donald Trump in the dust. His weekly jobless claims recently plunged to 199,000. That is the lowest number in more than 50 years, according to The Washington Post. On the other hand, Trump was the first “post–World War II president to see employment fall during his presidency.” The last time that happened was when Herbert Hoover left office in 1933. We are talking in the middle of the Great Depression.
The ex-president rode in on the Obama-Biden team’s longest economic expansion in American history. Then, Trump screwed it all up by mishandling the COVID-19 pandemic.
In just two months, from February to April in 2020, his unemployment numbers peaked sharply to “an 80-year-high.” And the number of employed Americans plummeted from “152.5 million to 130.3 million. In losing 22.2 million U.S. jobs, he took the country back to the 1999 numbers, The Fortune Magazine reported:
‘Simply put: The historic jobs boom that candidate Trump promised on the campaign trail in 2016 was yet another victim of COVID.’
President Biden added 5.8 million jobs this year and 531,000 of those just last month. His unemployment rate was down to 4.6 percent, according to The USA Today. Then, there was the $1.2 trillion infrastructure bill that just passed.
The Washington Post continued:
‘The 71,000 slide marks the eighth straight week of declines, a reflection of a tight labor market that has companies scrambling to retain and expand their workforces.’
The infrastructure bill will bring in good-paying jobs to Americans, many of them union jobs, many not requiring a college degree. President Biden will employ people building and repairing roads, bridges, and internet services. Now there is the money to replace the lead water pipes and rebuild our power grid, making it far less susceptible to hacking by foreign governments.
Wages increased 4.2 percent during POTUS’ 11 months in office, and get this. Reuters reported that:
‘[H]ousehold wealth in the United States is at an all-time high, thanks to the solid housing market and a stock market that continues to defy gravity.’
When Trump signed into office in January 2017, employment was 145.6 million.
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