By Curt_Anderson August 5, 2022 12:03 pm Category: Business (0.0 from 0 votes)
Rules of the Post
in congratulating the President in beating back recession:
"Joe Biden da BOMB! Whataguy." --HtS (see 2nd link)
Is Biden Right About a Recession? The July Jobs Report Suggests Yes.
The U.S. economy added 528,000 jobs in July, according to the latest jobs report, far outpacing expectations. The new numbers dampen fears of a recession.
The jobs report suggests President Biden is right about a recession.
The strong jobs report was welcome news for President Biden, who has insisted in recent weeks that the United States is not in recession, even though it has suffered two consecutive quarters of economic contraction.
But the report also defied even the president’s own optimistic expectations about the state of the labor market — and appeared to contradict the administration’s theory of where the economy is headed.
Mr. Biden celebrated the report on Friday morning. “Today, the unemployment rate matches the lowest it’s been in more than 50 years: 3.5 percent,” he said in a statement. “More people are working than at any point in American history.”
The views and claims expressed by contributors are their own and do not necessarily reflect the views and beliefs of SelectSmart.com. Not every statement made here can be assumed to be a fact.
Comments on "HtS was ahead of the rest of us by a week...":
in congratulating the President in beating back recession: