Sunday, June 9, 2024

Biden's Job Creation Claims Hollow?

Before the Covid pandemic, employment was strong. Many businesses closed down during the pandemic and many jobs were lost. 

The pandemic "ended" or, more accurately we became accustomed to it and stopped avoiding each other. Retail and service businesses rehired and employment went back up.

President Biden tries to take credit for the boost in employment associated with the pandemic's "end." That is like taking credit for dawn, something that will happen regardless.

The editorial board at Issues & Insights asks the question, "Have 'Any' Jobs Been Created Under Biden?" It is a relevant issue. I'd like to see economic data that tries to tease out the relative impacts of recovery from pandemic and Biden administration policies and practices. 

Biden has emphasized creating jobs in the green energy field. Most Americans are very tepid about this at best, if not actively opposed. 

Most firms started to take advantage of the new government green emphasis have failed. Actually most new firms do fail, but the number of these which benefitted from government largesse and still went under is notable.

I & I concludes:

Because in the four years since the COVID lockdowns, the working-age population has grown by 8.6 million. No matter how you measure job growth, it hasn’t kept pace with population growth since February 2020.

They also note that the growth of "gig" employment means substantial numbers are holding down more than one job and are double counted in employment statistics.