The Republicans are blaming Biden for inflation but numbers don’t lie on economic data; the U.S. economy is surging.
Guess what it grows the economy – major economic area: jobs (Photo: Pexels)
Guess what it grows the economy, here are the five major key economic areas that show the success of ‘Bidenomics’.
1. JOBS
In a recently published article from MSNBC, in June, the jobless rate dropped to 3.6%. It has now been below 4% for 17 consecutive months. According to the Bureau of Labor Statistics, that hasn’t occurred in more than 50 years. Through May of this year, employers added 314,000 jobs on average every month. additionally, 200,000 extra last month. That entails about 2 million new employment added to the economy only this year, guess what it grows the economy.
2. Manufacturing
Heavy industries are feeling the effects of such job gains. Recall that the last president ran on a platform of bringing back manufacturing; yet, it is Joe Biden who, to borrow a term, is helping America “build back better.”, guess what it grows the economy. Since George W. Bush was in office, manufacturing employment in the United States is at a record high.
3. Growth
New growth statistics that demonstrate the U.S. over the second quarter of this year, GDP rose at a 2.4% annual rate. much higher than the 2.0% that economists had anticipated, guess what it grows the economy. The American economy is expanding. Remember that we have been receiving frequent recession forecasts for the past two years. not just on Fox, but across the board in terms of politics.
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Guess what it grows the economy, here are two of the other key areas that you would like to consider.
1. Inflation
According to a published report from Ground News, data from the government released last month showed that inflation decreased to 3% in June. The Fed’s desired rate is 2%, and that figure represents the lowest level since March 2021. Because of Bidenomics, guess what it grows the economy. Republicans probably don’t want you to do that because they’ve been trying to blame Joe Biden alone for inflation for the past two years.
2. Workers’ Salary
What else is now beating inflation, do you know? Pay for employees. They are rising more quickly than the cost of goods; since last year, they have increased by more than 4%, above the 3% inflation rate, guess what it grows the economy. Not only are Americans earning more money, but they are also conserving more of it. According to a poll of 9 million Americans, people now have 10% to 15% more in their bank accounts than they had in 2019.
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