The Jobs Number No One Wants To Talk About
New entrants to the labor market need jobs too.
Gallup released an interesting poll a few days ago. Most people in the United States are not very happy about the state of the economy. They report they are not doing very well, and they don’t have much faith that things will get better any time soon.
That is in direct opposition to what President Biden and Fed Chair Jay Powell say about the condition of the economy.
Fed Chairman Jay Powell recently said “The labor market is strong because the economy is strong”.
President Biden agrees, saying, “I stand here tonight after we’ve created…12 million new jobs — more jobs created in two years than any president has created in four years…”
You don’t have to look far to find why people surveyed by Gallup aren’t seeing eye to eye with the experts and politicians.
It’s because the experts and politicians are avoiding an uncomfortable truth.
Take the so called labor shortage and unemployment rate for example. The people actually in the labor market know that things are nothing like what they are hearing from leaders.
