Under the leadership of President Donald Trump, the U.S. economy is making a huge comeback from record lows brought on by the coronavirus pandemic — and it’s bad news for Democrat White House hopeful Joe Biden.
According to the Washington Examiner, Trump has polled well with voters on “his stewardship of the economy despite dissatisfaction with other aspects of his leadership,” and the latest jobs numbers will likely only bolster his success. It’s something the Biden campaign should certainly be worried about as November’s election draws closer.
“Back to normal”
According to the Examiner, the August jobs report was released by the U.S. Bureau of Labor Statistics (BLS) on Friday, and it revealed that nearly 1.4 million new jobs were added to the economy last month.
What’s more, the unemployment rate dipped below 10% for the first time since the coronavirus pandemic began, settling at 8.4% in August.
It’s all good news as the economy seeks to recover from COVID-19 — and as President Trump seeks to make a good impression with voters.
“I still think the election revolves around who can make America normal again, and getting the economy back to normal is a big part of that,” Republican strategist Scott Jennings reportedly told the Examiner. “[Trump has] got to make the contrast, though, and explain why Biden’s economic policies would put a halt to the recovery.”
“Another great day for American jobs”
A report from the White House Council of Economic Advisers said that before COID-19, the U.S. was enjoying a historically low 3.5% unemployment rate. But in April, unemployment surged to 14.7% amid near-nationwide business closures and lockdown orders put in place in efforts to fight the coronavirus pandemic.
In just a few months, it seems that spike has disappeared. It’s a jump that comes in stark contrast with the years-long rate of recovery seen after the Great Recession of 2008.
Even experts didn’t see this coming: according to reports, analysts anticipated that the unemployment rate would still be floating around 10% at the end of August, but it was nearly 2% below that.
“It’s another great day for American jobs and American workers,” Vice President Mike Pence told CNBC after the jobs report far exceeded expectations. Pence also said the report provides “real evidence that the American comeback is underway.”
Jobs were created in industries like retail, business and professional services, and leisure and hospitality, according to CNBC — all sectors that were hit hard by COVID-19. But Biden apparently isn’t buying the news, telling reporters Friday that economic “recovery requires leadership — leadership we didn’t have and still don’t have” from the White House, the Examiner reported.
The Trump campaign, for its part, hit back with a statement of its own. “While Biden hopes for economic ruin to buoy his political fortunes, President Trump is leading the nation, working every day to make America great again — again,” Trump spokesman Tim Murtaugh said, according to the Examiner.