In May 2022, a report from the Beaurau of Labour Statistics revealed that more and more Americans are finding employment. The report shows that unemployment in America has been at 3.6% for three consecutive months, which is an all-time low in the last five decades. Except for the first few months of 2020, this unemployment rate had never been seen in the last five decades in the U.S. This shows that President Joe Biden is tackling American unemployment quite effectively, which is, of course, is a concern of all American leaders. However, the previous government of former president Donald Trump was seemingly ineffective in handling joblessness across the country.
Nonetheless, a low unemployment rate means a better economy, especially during the days when the economy is hit by a global pandemic such as COVID-19. On top of that, a financial recession is also anticipated, so it is wholesome to see that the Biden administration is paying keen attention to unemployment and is aiming to eradicate it completely.
When most people find jobs, it means there is more productivity in the country. In turn, these employees will contribute to the economy by paying taxes while also being able to pay their monthly bills. Creating a job boom was one of the greatest initiatives of president Biden as it ensured that most Americans found a job. Now, almost every American can get access to better healthcare, pay their bills, contribute to the country’s economy, and live the American dream.
Thus, in terms of a better American lifestyle, Biden’s job boom initiative is certainly praiseworthy. And it is paying off.
High Inflation Rate Still Poses A Question Mark for President Biden
Regardless of the job boom in America, most Americans are not happy with the Biden administration. One of the main reasons for this is the all-time high inflation rate. Consumers across the country are deeply concerned about the increased cost of living and the rising costs of gas, fuel, electricity, grocery, etc.
The irony of Biden’s governance is that although almost every American has a job and a source of income, they are least concerned about it. And the reason is simple: High inflation. A report from the New York Times claims that America is now witnessing the highest inflation rate in the last seven decades.
In other words, for their everyday household necessities, Americans today are paying way more than they did in the last seventy years. Thus, handling the all-time high inflation rate is another major challenge for president Biden, which is why most Americans are of the view that the government should focus on inflation instead of unemployment.