Under normal circumstances, President Joe Biden’s track record in the first 10 months of his term would be off the charts. He landed hefty checks into Americans’ accounts and provided a fixed monthly child tax credit. Our president signed into law a massive infrastructure bill, which will generate massive numbers of well-paying and union jobs. And his private payroll numbers are posting far better than expected.
In November, the number of jobs increased by 534,000, significantly higher than the Dow Jones estimate of 506,000, according to CNBC.
Since I was sworn in on January 20th, we’ve seen a record 5.6 million in job growth— with more jobs created at this point than ever before in American history. We’ve made enormous progress and we’re on our way to building an economy that ensures no one is left behind. pic.twitter.com/Lmbc7kbrrU
— Joe Biden (@JoeBiden) November 29, 2021
ADP’s chief economist Nela Richardson said:
‘The labor market recovery continued to power through its challenges last month. Service providers, which are more vulnerable to the pandemic, have dominated job gains this year. It’s too early to tell if the Omicron variant could potentially slow the jobs recovery in coming months.’
The best jobs numbers were in the leisure and hospitality positions, which rose 136,000. These positions included bars, restaurants, hotels, and like businesses. And they fell under the service sector umbrella, which added a total of 424,000 jobs.
— Bloomberg (@business) November 30, 2021
Growth in the private sector ran hot, too:
‘The private job growth was 543,000 positions averaged over the past three months. For the year to date, President Biden added 491,000. The Labor Department’s monthly payrolls report, which includes government jobs, has averaged 529,000 this year.’
In companies with 500 or more employees, Biden added 277,000 in November alone. In those with 1,000 or more employees, he added 234,000 jobs. The payroll processing company ADP’s report indicated:
‘Companies added jobs at a robust pace in November despite worries about rising inflation and the threat that the pandemic could slow growth into the winter months, according to a report Wednesday from payroll processing firm ADP.’
Another area of strength was in the professional and business services sector. In November trade added 110,000 jobs, transportation and utilities added 78,000, and education and health services added 55,000 positions. In goods production, there were 52,000 new construction jobs. And manufacturing added 50,000 positions.
Companies employing 500 or more added 277,000 for the month of November, with growth especially strong in those with 1,000 or more workers, 234,000. Medium-sized firms hired 142,000 while those with fewer than 50 employees added 115,000.
November’s numbers declined “from the October growth of 570,000, which was revised lower by 1,000.”
Friday’s upcoming Bureau of Labor Statistics Report for November shows good numbers for President Biden, too:
‘The Bureau of Labor Statistics report for November that is scheduled to be released Friday is expected to show growth of 573,000 jobs, following October’s 531,000. The unemployment rate also is forecast to edge lower to 4.5 percent, according to Dow Jones estimates.’
Of course, Americans have been concerned about the signs of inflation that they see at the gas stations and grocery stores. The new COVID variant is another unknown variable that is still in play.
Typical of President Biden, his child tax credit program showed immediate results in the decline of child poverty. However, the benefits will be long-lasting, according to The Chalkbeat:
‘Earlier this year, Congress decided to try a remarkably straightforward approach to reduce child poverty: give their families more money.’
Three White Lions podcast, Gloria Christie reads her week’s most important news/ commentary stories in the liberal online newspaper The Bipartisan Report. Gloria Christie Report her newsletter for people on the go. Written in her own unique style with a twist of humor in a briefer version of Bipartisan Report. Christie’s Mueller Report Adventures In Bite-Sizes a real-life compelling spy mystery (in process). Find her here on Facebook.