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Biden Resides Over Best Employment Numbers of Any Four Year President In Only Two Years
By Ponderer
February 3, 2023 3:47 pm
Category: Charmed

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Decades-low unemployment rate is welcome news for Biden ahead of State of the Union

U.S. President Joe Biden cheered jobs numbers released Friday morning showing the lowest unemployment rate in almost 54 years, pointing to the report as another example that his policies are working.

“The last time the unemployment rate was that low was May 1969,” Biden said, speaking from the White House. “More people are coming into the market looking for jobs and getting jobs, a positive sign for the health of the economy going forward.”

The Bureau of Labor Statistics jobs report released Friday found the U.S. unemployment rate fell to 3.4%, an almost 54-year low, even better than the 3.6% economists expected. Nonfarm payrolls increased by 517,000 in January, far exceeding the 187,000 market estimate and December’s 260,000 gain.

“We’ve created 12 million — 12 million — jobs since I took office,” Biden said. “That’s the strongest two years of job growth in history by a long shot.”

[Well to be fair, it's like nearly 12 million]




How many jobs did Trump create in his four years...? I can't seem to find numbers on that...




Cited and related links:

  1. cnbc.com

Comments Start Below


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Comments on "Biden Resides Over Best Employment Numbers of Any Four Year President In Only Two Years":

  1. by islander on February 4, 2023 8:13 am

    True! The unemployment rates are phenomenally low. We can still gripe about inflation but it too is slowing down, hopefully we’ll be seeing the feds continue to raise interest rates little by little. The tremendous influx of money when the Feds were giving out money at practically 0 interest rates helped pump up the economy which was necessary, but when there is so much money floating around out there each dollar will naturally be worth less.

    

I’ve been pleasantly surprised at the job Biden is doing in getting the country back on track. I have to give him credit for stepping up to the plate at the moment in history when we needed someone like him most and he’s not exactly a spring chicken. It’s not a job I would want, especially not at my age !

    Here's to ya Joe !!! 🍻




  2. by HatetheSwamp on February 4, 2023 10:26 am

    Bahahahahahahahahahaha, ahhhhhhhhhhh.

    Yup. Clouseau'll go down in history as the Dutch Reagan of the 21st century.

    Keeheeheeheeheeheeheehee, ha.


  3. by islander on February 4, 2023 11:56 am
    "From the White House, Biden noted that the “strikingly good” new jobs report issued by the Bureau of Labor Statistics this morning proved that his vision of society works. It showed an astonishing 517,000 new jobs added in January, the twenty-fifth straight month of job growth. Unemployment fell slightly to 3.4%, a low last seen in May 1969 (not a typo).

    Between 1933 and 1981, Americans of both parties shared the idea of using the federal government to level the social, economic, and political playing fields. The current Republicans are rejecting that vision, reclaiming that of the business-oriented Republicans in the 1920s. Under Biden, the Democrats are trying to rebuild that shared vision, returning the parties to fights over the kinds and limits of government policies, rather than fights over whether they should exist at all.

    Biden told his audience that “once every three, four, or five generations, there’s a fundamental shift in world politics and national politics” and that we are in such a shift now."
    * HCR

    Like I said, "Good going Joe" 👍



  4. by HatetheSwamp on February 4, 2023 12:15 pm

    isle,

    What did you expect from Clouseau printing $trillions? A bunch of jobs, sure...

    ...plus generationally inflation followed by generationally high increases in interest rates.

    Most of the spending the last Congress authorized hasn't even happened yet. What's going on in the Biden economy is perfectly predictable...and, most of it's bad.


  5. by Curt_Anderson on February 4, 2023 12:51 pm
    HtS,
    Interest rates were three times higher when Reagan was president. See 1st link to chart.

    As for increasing the federal debt...

    Donald Trump:
    At the end of fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase, largely due to the effects of the coronavirus pandemic and 2020 recession.

    In his FY 2021 budget, Trump's budget included a $966 billion deficit.17 However, the national debt actually grew by $1.5 trillion between October 1, 2020, and October 1, 2021.

    Joe Biden:
    In January 2023, the nation hit the $31.4 trillion debt limit Congress passed in 2021.9 Republican lawmakers control the House of Representatives and said they won’t raise the debt limit unless Democrats, who control the Senate, agree to budget cuts.

    On Oct. 1, 2021, at the end of fiscal year 2021, the national debt was $28.4 trillion. Between the end of fiscal year 2020 and the end of fiscal year 2021, the national debt grew $1.5 trillion, a 5.6% increase year over year. For fiscal year 2022, President Joe Biden's budget included a deficit of $1.84 trillion, and by August 2022, the national debt had grown to $30.8 trillion.1
    fred.stlouisfed.org
    thebalancemoney.com


  6. by HatetheSwamp on February 4, 2023 2:08 pm

    The rate of inflation was 1.4% when Clouseau placed his hand on the Bible and was immaculated.

    It's been over 9%. The Fed has had to significantly raise interest rates to bring inflation down to the current 6.5%.


  7. by Curt_Anderson on February 4, 2023 2:39 pm
    HtS,
    Pick your poison: Inflation under Biden, recession under Trump.

    Low unemployment = more people with money = more spending = greater demand = higher prices = higher wages = inflation = increases in interest rates.

    A recession is the the reverse problem. The interest rates are lower, but unemployment is higher, sales are decreased, crime and social ills tend to increase.


  8. by HatetheSwamp on February 4, 2023 2:44 pm

    Recession under Trump. Bahahahahahahahahahaha!


  9. by Curt_Anderson on February 4, 2023 3:29 pm
    Hts,

    cbpp.org


  10. by Donna on February 4, 2023 4:47 pm

    Republicans spent hundreds of millions of dollars last election running tv ads laying the entire blame for high inflation on the Democrats.

    Actually neither party is to blame. The Republican Party knows this. Which is why House Republicans are spending all their time investigating Democrats instead of proposing legislation to fix problems they blamed on the Democrats.

    I saw a recent CNN poll where 73% of those polled said they were displeased with the direction being taken by House Republicans.

    Keep up the good work!


  11. by HatetheSwamp on February 5, 2023 3:58 am

    Okay, Donna. pb's willing to consider that the GOPs share in being the cause of inflation. What did GOPs do?

    And,...

    ...you're old enuff to remember the Watergate hearings. How on fire were Americans before they kicked off? As far as I can tell, GOPs aren't doing, especially, the Biden Crime Family hearings for the sake of their popularity with voters. There's as much reason, based on NYP, Fox and others' reporting, to think that Joe Biden's a crook as there was in the early 70s that Nixon was. More, probably. At this point, we didn't have Nixon's tapes.

    We'll see.


  12. by HatetheSwamp on February 5, 2023 4:10 am

    Two questions from your chart, Curt:

    How does it describe an actual recession?

    What Trump policies are you suggesting created your supposed recession?


  13. by Ponderer on February 6, 2023 7:53 am

    Thanks for posting the numbers, Curt.

    Hate and the rest of the MAGA Hats/Republicans are simply loathe to acknowledge that Biden has done far better than anyone had ever expected him to. I am even surprised! I've never been a big fan of Biden, but I gotta hand it to him. He's actually doing the job. Things are definitely improving for average Americans under Biden and that won't work for the GOP. So they simply lie. Hate is a great example.

    Hate and the Republicans will never admit that being in a recession and unable to find a job, as was the case during the Trump administration, is far worse than experiencing inflation with a job as things are now. Things are a bit more expensive for the time being, but at least people are employed and have money to buy things with.


  14. by Ponderer on February 6, 2023 7:54 am

    "What Trump policies are you suggesting created your supposed recession?" -Hate

    Trump actually had policies...? Can you list some for us?


  15. by HatetheSwamp on February 6, 2023 8:05 am

    po,

    C'mon man! You need to get that TDS checked. You may remember his tax cut for the rich...remain in Mexico...

    Need pb continue?


  16. by Curt_Anderson on February 6, 2023 8:19 am
    For working people, including people who want to work, recession is worse than inflation. In a recession jobs are hard to come by; if you have a job you’re not in a good position to ask for a raise, nor are you in a good position to find a better job. Also high unemployment rates correlates to higher crime rates.

    So yes, recession under Donald Trump was worse than inflation under Joe Biden.


  17. by HatetheSwamp on February 6, 2023 8:39 am

    There was no recession under Trump.


  18. by Curt_Anderson on February 6, 2023 9:06 am
    HtS,
    Are you not able to see or understand the graph I posted above?

    Trump was the first President since Herbert Hoover to leave office with fewer Americans employed than when he entered office.

    Economists say Trump’s economic legacy will be defined by his failure in leadership during the COVID-19 pandemic that exacerbated the financial downturn, domestic policies that overwhelmingly benefited the wealthy, and international trade policies that hurt U.S. industry while simultaneously alienating allies.


  19. by HatetheSwamp on February 6, 2023 9:19 am

    Curt,

    I saw your graph...and responded to it. I saw the downturn in the economy but not, necessarily, a recession.

    Economists say Trump’s economic legacy will be defined by his failure in leadership during the COVID-19 pandemic...

    Really? Which ones?

    "If All the Economists Were Laid End to End, They Would Not Reach a Conclusion." -George Bernard Shaw

    Bahahahahahahahahahaha


  20. by Donna on February 6, 2023 9:26 am

    Okay, "Donna. pb's willing to consider that the GOPs share in being the cause of inflation. What did GOPs do?" - Hts

    Nothing.

    Your question tells me that if you read my post, you didn't comprehend what I wrote. You do that a lot.


  21. by Curt_Anderson on February 6, 2023 9:57 am
    HtS,
    You say you wanted to hear from economists. I doubt that you really do. Cult members never want to hear about the foibles of their idols. You probably won't look at what economists say about Trump but others here will.

    Trump's Tax Cuts and Jobs Act in December 2017 provided major tax breaks to corporations and wealthy individuals. The policy, among other things, reduced the corporate income tax rate from 35% to 21%. Contrary to Trump's sales pitch and promise TCJA didn't "pay for itself" or boost economic growth or increase employment.

    A 2019 report from Moody’s Analytics estimated that Trump's trade wars had cost the U.S. economy some 300,000 jobs. A study from the Federal Reserve Bank of New York published in May 2020 found that the trade war reduced U.S. investment growth by 0.3 percentage points by the end of 2019, and is expected to shave another 1.6 percentage points off investment growth by the end of 2020. On top of that, the study says that U.S. firms lost some $1.7 trillion in stock value as a result of the trade war with China.
    news.yahoo.com
    libertystreeteconomics.newyorkfed.org
    moodysanalytics.com


  22. by HatetheSwamp on February 6, 2023 10:30 am

    Curt,

    I don't recall asking for the testimony of economists. I do recall belittling them. I took enough econ in college to know my way around.

    Therefore, I never believed Trump's line about his tax cut. I wasn't for it but our taxes went down. I didn't complain.


  23. by Curt_Anderson on February 6, 2023 10:42 am
    "I don't recall asking for the testimony of economists." ---HtS

    You previously wrote "Really? Which ones?" asking about economists that I alluded to.

    Rather than simply listing their names, I included their statements and conclusions. Not to mention actual economic measurements.




  24. by HatetheSwamp on February 6, 2023 10:47 am

    Economists say Trump’s economic legacy will be defined by his failure in leadership during the COVID-19 pandemic...

    Really? Which ones?

    "If All the Economists Were Laid End to End, They Would Not Reach a Conclusion." -George Bernard Shaw

    I was being sarcastic, as I thought the GB Shaw quote evinced.

    Sorry for the lack of clarity.


  25. by Curt_Anderson on February 6, 2023 10:52 am
    HtS,
    No problem. I happy to have the opportunity to disabuse anybody of the notion that Trump was a good president by any measure.


  26. by HatetheSwamp on February 6, 2023 11:16 am

    But Trump. But Trump!!!!!

    What worshiper of the Flatulent Fool can say anything else?


  27. by Curt_Anderson on February 6, 2023 11:26 am
    They can say, “Biden Resides Over Best Employment Numbers of Any Four Year President In Only Two Years".


  28. by HatetheSwamp on February 6, 2023 11:30 am

    And, freethinking people will ejaculate bahahahahahahahahahaha hahahahahahahahaha hoohoohoohoohoohoohoo heeheeheeheeheeheehee hahahahahahahahaha heeheeheeheeheeheehee hoohoohoohoohoohoohoo hahahahahahahahaha hoohoohoohoohoohoohoo heeheeheeheeheeheehee hahahahahahahahaha heeheeheeheeheeheehee hahahahahahahahaha, ahhhhhhhhhhh!


  29. by Donna on February 6, 2023 11:35 am

    If you have nothing worthwhile to say, it's ok to not respond. You know that, right?


  30. by HatetheSwamp on February 6, 2023 11:43 am

    Donna,

    We've entered the land of absurdity.

    Y'nes apparently sincerely believe that the current dangerously high inflation rate, restrained only by historically rapid increases in interest rates by the Fed constitute signs of a healthy economy.

    What, that is sane, can be said to y'nes!!!!?

    With that as context, as po might rightly say?, I got nuthin.

    Nor do I want to have sumpthin.


  31. by Donna on February 6, 2023 12:23 pm

    I don't think what you say I apparently think.


  32. by HatetheSwamp on February 6, 2023 12:33 pm

    What do you think?

    Do you think that this jobs thing's good or symptomatic of the fact the Dems are overheating the economy?


  33. by Donna on February 6, 2023 12:46 pm

    It's too complicated for me to spend a lot of time here discussing it, but obviously you have to look at all of the stats, not just the unemployment rate. Amso you have to keep in mind that people who work p/t minimum wage jobs are counted as employed.




  34. by Ponderer on February 6, 2023 12:54 pm

    "You may remember his tax cut for the rich..." -Hate

    I do. I just didn't count that as a Trump policy. For Trump and the GOP, it was more like an involuntary reflex.


  35. by Curt_Anderson on February 6, 2023 12:56 pm
    Some of the biggest beneficiaries of the Biden economy are low wage workers. Minimum wage here is about $14 but in reality the functional and advertised minimum wage is $15 and up plus benefits.


  36. by HatetheSwamp on February 6, 2023 12:59 pm

    po,

    It was a small government...trickle down...policy.

    And, Remain in Mexico.

    Or, are you saying you just hate Trump because you're deranged and not for an ideological reason? Even pb gave you more credit than that.


  37. by Curt_Anderson on February 6, 2023 1:16 pm
    The Trickle Down Theory "policy" is to Republicans what 72 virgins in paradise is to Muslim extremists. It's not a policy, it's an article of faith.
    forbes.com
    washingtonpost.com
    npr.org


  38. by HatetheSwamp on February 6, 2023 1:21 pm

    It is a matter of belief among some in the diverse Republican Party...which produces policies and acts of government.


  39. by Curt_Anderson on February 6, 2023 1:26 pm
    "It is a matter of belief among some in the diverse Republican Party..." --HtS

    "Faith is believing what you know ain't so." --Mark Twain.


  40. by oldedude on February 6, 2023 1:59 pm
    Curt- I have a question. Are you including the immigrants that are coming in to the states? Including illegals? Because they skews the numbers quite a bit.


  41. by oldedude on February 6, 2023 8:15 pm
    I find it interesting that no one offers an option?


  42. by HatetheSwamp on February 7, 2023 3:05 am

    Gang,

    The Trickle Down Theory "policy" is to Republicans what 72 virgins in paradise is to Muslim extremists.

    I've been on the SS forums for a looooooooong time. I'm not certain. But. Is this the first statement of as effin po'd say, BLATANT Islamophobia!!!!!?


  43. by oldedude on February 7, 2023 6:56 am
    The Trickle Down Theory "policy" is to Republicans what 72 virgins in paradise is to Muslim extremists. It's not a policy, it's an article of faith.

    From your citation.
    "Less than a week after Treasury Secretary Mnuchin repeated the fanciful claim that the Trump tax cuts of 2017 would pay for themselves, the non-partisan Congressional Budget Office (CBO) proved him wrong. If tax cuts actually paid for themselves, they would reduce deficits based on faster revenue growth that comes from faster economic growth. Deficits immediately shot up after the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high for the foreseeable future. This is the opposite of tax cuts paying for themselves."

    So what this is saying is that Trump made a bet the inflation would stay at his levels, which would increase investments, and the supply chain would keep going as it had under his administration. Enter pedojoe. Supply chain issues and cost of living going from 1.6% to over 8%. Had it been kept as his 1.6 (and headed down), the gamble would have paid off and created a huge benefit for the working class. This instead of the net loss by the middle and lower class, retirees, and hourly workers.
    forbes.com


  44. by Donna on February 7, 2023 7:24 am

    Adding to Curt's "pick your poison" post on this thread, I came across the following from the NY Times when I was reading about the multiple problems Turkey is facing in addition to the devastating earthquakes that hit a couple of days ago:

    As prices have soared across much of the world over the past few years, central banks have raised interest rates. Economists across the ideological spectrum agree with the approach (even if they disagree about the details): By making loans more expensive, the central banks depress demand and reduce inflation.

    Turkey, however, has pursued a very different monetary policy. It has reduced interest rates. I’ll spare you the technical arguments that its government has offered in defense of the policy, because it has failed. Annual inflation has hovered between 50 percent and 90 percent over the past year, causing hardship for many families and businesses.

    The earthquakes are likely to make matters worse by disrupting production and supply chains. As the world experienced during Covid, supply-chain problems reduce the supply of goods and, by extension, often cause price increases.



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