Last updated on July 18th, 2023 at 01:46 pm
The January jobs report showed surging payrolls, increasing labor force participation, and rising wages.
Job growth around the U.S. was robust in January, with employers adding 467,000, surprising economists who had forecast that the COVID-19 wave caused by the Omicron variant would dampen payrolls. The leisure and hospitality sector led the increase, adding 151,000 jobs in January. Professional and business services added 86,000 jobs, while retail added 61,000.
Economists Have No Idea What Is Going On
Economists predict good jobs numbers, and they are lower than forecast. For January, economists forecasted poor numbers due to Omicron, and the numbers are three times higher than the projection, so we have reached the point in the pandemic where traditional economic models are being broken by COVID.
The Biden Economic Plan Is Working
The one consistency has been that the Biden administration has enacted policies that have helped to spur record-setting job growth. America lost more than 9 million jobs under Trump and has gained 6.4 million under Biden.
The increase in labor participation suggests that the jobs numbers will continue to grow, It is only a matter of months until Biden creates more jobs than Trump lost.
President Biden’s economic plan is working. Democrats should be talking about the success each day because it makes it more challenging for Republicans to run on anger in the midterm election if the economy turns into a Biden boom.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
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