2023 is concluding with a polling whimper for President Joe Biden. A series of new polls show Biden’s favorability is plummeting. His polling on the economy is especially bad. According to a new Pew Research poll, only 36% of respondents say Biden “make[s] good decisions about economic policy.” A new Fox News survey reveals just 14% of Americans think Biden’s economic policy impact has been helpful.
In an effort to reverse these falling poll numbers and duck the cost-of-living crisis facing many Americans, Biden has shifted his economic remarks of late from “Bidenomics” to job creation. “President Biden likes to talk about ‘jobs, jobs, jobs’ when touting his economic record,” reported the Wall Street Journal this month. “The problem is that voters are far more worried about prices, prices, prices.”
Yet a closer look at the 2023 labor market data reveals the jobs picture is not as rosy as Biden’s rhetoric.
Even with the Federal Reserve’s interest rate pivot announced in December, the U.S. economy faces numerous headwinds. These include high wholesale and consumer costs, elevated interest rates and record consumer and sovereign debt levels.
No wonder Biden is choosing to devote his economic remarks to jobs. But for those Americans not working in government or healthcare, the 2023 labor market is nothing to celebrate.
Alfredo Ortiz is president and CEO of Job Creators Network, author of “The Real Race Revolutionaries,” and co-host of “The Main Street Matters” podcast.
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Alex Acosta served as the 27th U.S. secretary of Labor and is a board member at Job Creators Network.
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