Joe's Economy And Bidenomics

Great economy for those willing to work...

27th consecutive month that the unemployment rate was below 4 percent. This was previously recorded during a low-unemployment period between 1967 to 1970 and closing in on the longest period on record, between 1951 to 1953.
 
Happier said:
Great economy for those willing to work...

27th consecutive month that the unemployment rate was below 4 percent. This was previously recorded during a low-unemployment period between 1967 to 1970 and closing in on the longest period on record, between 1951 to 1953.
Click to expand...

Sure thing.....
  • Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus.
  • The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. A more encompassing jobless rate edged up, to 7.4%, its highest level since November 2021.
 
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Happier said:
Great economy for those willing to work...

27th consecutive month that the unemployment rate was below 4 percent. This was previously recorded during a low-unemployment period between 1967 to 1970 and closing in on the longest period on record, between 1951 to 1953.
Click to expand...

Riddle me this ye acolyte of Alinsky, if things are so great, why do the polls indicate dissatisfaction with Team Biden's handling of the economy?

Biden defends his handling of the economy amid latest rough inflation numbers
 
Biden's on the verge of breaking the 1967-70 streak of sub-4% low unemployment: 27 months AND - rents are down

“For the eighth consecutive month, U.S. rents dropped on an annual basis in March, falling by 0.3%, according to a Realtor.com
 
Happier said:
Biden's on the verge of breaking the 1967-70 streak of sub-4% low unemployment: 27 months AND - rents are down

“For the eighth consecutive month, U.S. rents dropped on an annual basis in March, falling by 0.3%, according to a Realtor.com
Click to expand...
  • Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus.
  • The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. A more encompassing jobless rate edged up, to 7.4%, its highest level since November 2021.
 
SayMyName said:
  • Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus.
  • The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. A more encompassing jobless rate edged up, to 7.4%, its highest level since November 2021.
Click to expand...
This is what the FED wants to tame inflation.

NOTE: Joe Biden not whining and threatening the Fed on Social Media.

Trump would be whining and crying about crooked Powell rigging the election against him on Truth Social if he had not already fired him and replaced him with nutty Lou Dobbs.
 
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Happier said:
This is what the FED wants to tame inflation.

NOTE: Joe Biden not whining and threatening the Fed on Social Media.

Trump would be whining and crying about crooked Powell rigging the election against him on Truth Social if he had not already fired him and replaced him with nutty Lou Dobbs.
Click to expand...
Billy Crystal Crying GIF by MOODMAN
 
SayMyName said:

Sure thing.....
  • Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus.
  • The unemployment rate ticked higher to 3.9% against expectations it would hold steady at 3.8%. A more encompassing jobless rate edged up, to 7.4%, its highest level since November 2021.
Click to expand...
I might mention on that lower than predicted job growth that history says the number will be revised down in the near future. Great endorsement of Bidenomics would you not say?
 
thehill.com

Biden’s worst-case economic scenario is unfolding at the worst possible time

The economic growth that the administration hoped would at least outstrip inflation’s increase — and reverse some of that cumulative effect — is not.
thehill.com thehill.com
Ruh Roh....

Last Thursday, the Bureau of Economic Analysis released its advance estimate for 2024’s first-quarter real GDP growth. At 1.6 percent, it is the worst quarterly performance since the economy contracted by 0.6 percent almost two years ago in the second quarter of 2022. This was a growth level one-third below economists’ expectations of 2.4 percent. It is also a precipitous drop from 2023’s fourth quarter rate of 3.4 percent and 2023’third quarter rate of 4.9 percent.

This slower growth comes on the heels of higher inflation. The March report on overall prices showed the Consumer Price Index for all Urban Consumers rose 3.5 percent over the last year — 3.8 percent when core inflation (minus food and energy) was considered. That figure was higher than any since September 2023 and marked the third consecutive monthly increase.

Then on Friday, came more bad inflation news, this time on personal consumer expenditures excluding food and energy. This is the Federal Reserve’s preferred inflation gauge, and in March it rose 2.8 percent compared to a year ago — the same as in February and above expectations.

This jujitsu juxtaposition of higher inflation and lower growth must not be underestimated. Gone is the charade of someone who has effectively never worked in the private sector telling working Americans how good the economy is. Joe Biden, who loves to harken back to blue-collar Scranton roots, should have known better. Americans now do.

There is but one real measure of the economy for them: Am I putting more on my family’s table? Inflation’s insidious impact is its cumulative effect. Just because inflation’s rate of increase slows (which it isn’t) does not mean its past effect is wiped away (which it’s not). Now the economic growth that the administration hoped would at least outstrip inflation’s increase — and reverse some of that cumulative effect — is not.
 
I just read a report that stated there is a large shortage of rental units in the Dayton area particularly in the low income priced units. This is causing the cost of rent to go, up in fact it stated that the cost is going up faster than state and even national average.
 
19AL63 said:
I just read a report that stated there is a large shortage of rental units in the Dayton area particularly in the low income priced units. This is causing the cost of rent to go, up in fact it stated that the cost is going up faster than state and even national average.
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Sounds like an invitation to go build some rentals. I’ll look into when I get back to Ohio next week. Thanks for the tip.
 

White House on When Prices Will Drop if Biden’s Re-Elected: We’ve Cut Some Costs​


www.breitbart.com

White House on When Prices Will Drop if Biden’s Re-Elected: We’ve Cut Some Costs

During an interview with CBS on Friday, White House Council of Economic Advisers Chair Jared Bernstein responded to a question on how long it will take | Clips
www.breitbart.com www.breitbart.com


Host Elaine Quijano asked, “But in terms of a timeframe, Jared, if people try to look ahead and plan for their futures and budget for things like groceries and those tangible sort of everyday goods, what should they be looking at if there is any kind of potential timeframe in mind if the President is re-elected, how long would it take for prices to come down?”

Bernstein responded, “Well, again, I think one of the things we can look at is numbers like those in the jobs report today. One of the things we saw in this job report is that if you look at the share of women working in the workforce, the employment rate, that’s the highest it’s ever been, with data back to 1948. That is [a] historical record. We’ve talked about the record on the low unemployment. I think we also need to reference the fact that wages have been outpacing prices, real wage gains, for about 13 months in a row, on a year-over-year basis. So, paychecks are going further. And then I think to get right to the heart of your question, I think you have to ask who is fighting for whom. This is a President who is consistently fighting to cut taxes on the middle class and to ensure that the wealthy and the corporations pay their fair share, aggressively going after junk fees, whether it’s credit card fees, airline fees, in entertainment, he’s having — making real progress in cutting those junk fees, and of course, again, on prescription drugs, on health care, on the cost of insulin, these are measures that are in effect, actively lowering costs, that the other side wants to reverse.”
 
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