After bragging about the rise in job chances in America since he assumed office, President Joe Biden sidestepped questions from reporters, RadarOnline.com has learnt.
Currently, America is experiencing one of the strongest eras for job growth in its history. The Labor Department’s August 2023 report, which showed that America was losing employment, prompted him to claim that it wasn’t that long ago.
According to the study, there were an additional 187,000 jobs created in July, but the unemployment rate increased to 3.8 percent, which was the highest level since February 2022 and much higher than in July.
Donald Trump, the previous president, was the target of Biden’s jab during his speech at the White House. In fact, he claimed it was regarding Trump, who served as commander in chief at the height of the COVID-19 pandemic.
He said that his predecessor was one of only two presidents in history who started his presidency and left with fewer employment opportunities than when he entered.
In an attempt to highlight how his administration is still making progress, Biden claimed that employers have created 13.5 million new jobs since he took office and that the unemployment rate has been below 14 percent for the longest period in more than 50 years.
He actually meant that it had been under 4%. Biden cited the Congressional Budget Office’s nonpartisan forecast that it wouldn’t fall below four percent until the end of 2025.
Biden Touts Job Creation, but Unemployment Remains High
In two years, they produced more jobs than the previous president ever did in a single, four-year term. He went on to talk about their efforts to assist people in returning to work during lockdowns and how they recovered every job lost during the pandemic.
After finishing his comments, reporters could be heard shouting their inquiries as Biden departed the platform.
One questioned, “Why are so many Americans living paycheck to paycheck?”
The Biden administration unveiled a new proposed rule earlier this week that would expand overtime pay to the majority of salaried workers making around $55,000 per year.
Additionally, the income barrier would be automatically updated based on the proposed rule every three years.
Despite the most recent improvements, Nick Bunker, head of economic research at the Indeed Hiring Lab, stated that the U.S. labor market is still falling back to earth but from a very high peak.