Biden Stays On Track For Presidential Job Creation Record | Global News Avenue

A rebound in the job market in November makes it more likely that President Joe Biden will leave office after overseeing an economy that adds jobs every month during his term, something no other president in history has done.

If the economy adds jobs in December and January, Biden will have all his work cut out for him Job growth positive during presidential term. That record was nearly broken in October when strikes and hurricanes pushed job creation to barely positive levels. However, the Bureau of Labor Statistics on Friday raised employment numbers for October, to 36,000 from 12,000, making future revisions unlikely to be negative.

Since the government began tracking the economy in 1939, every other president has been out of work for at least a month.

Jobs are the bright spot of the Biden-era economy

If the economy maintains its job-creating momentum, it will underscore the Biden administration’s complex economic legacy.

Biden took office in January 2021 as the economy was recovering from the COVID-19 pandemic and employers were hiring again as businesses reopened. The economic recovery translated into a broad labor market boom, with a record ratio of two jobs for every unemployed worker by mid-2022. The next year, unemployment reached an all-time high lowest level since 1960s.

But this rapid growth also comes with a downside: inflation. inflation rate A new high in four years It’s at the peak of the job market’s hotness.

Since then, both the job market and inflation have stabilized near pre-pandemic levels, but the public seems to remember the latter more than the former when it comes to choosing a president: Voter outrage over Biden-era inflation Helping Democrats lose power across all branches of government in the November election.