Bidenomics’ “winning streak” continues as it added 209,000 jobs
President Biden as he reports “Bidenomics in action”. (Photo: Reuters)
“Bidenomics” Generates Over 209,000 Jobs
As reported by the Labor Department, the “Bidenomics” by President Biden continues its “winning streak” last month as it added over 209,000 jobs for Americans nationwide. Bidenomics were able to generate jobs in construction, child care, health care, social assistance (like elderly care or social work), and government positions for qualified people. Due to Bidenomics, the unemployment rate dropped to 3.6% from 3.7%
The number of jobs generated from Bidenomics was somewhat short based on experts from Dow Jones. According to their recent survey, Bidenomics was expected to generate over 240,000 jobs.
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Bidenomics And The Federal Reserve
Despite the 31,000 difference, the 209,000 jobs generated from Bidenomics are still considered a victory. This is because too many job hirings or too many jobs created would compel the Federal Reserve to increase interest rates. Regardless, the stock market still fell in light of the great news.
Following the Federal Reserve’s meeting earlier this week, the Federal Reserve still intends to raise the interest rates. What the 209,000 jobs generated from Bidenomics meant was Biden’s economy is pushing even further to create jobs nationwide than what the Federal Reserve expected. Still, the number of jobs created by Bidenomics is good news all around.
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