{"id":2019964,"date":"2023-09-01T23:27:05","date_gmt":"2023-09-02T03:27:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-claims-credit-for-employment-recovery-compares-job-creation-record-to-trump-era\/"},"modified":"2023-09-01T23:29:28","modified_gmt":"2023-09-02T03:29:28","slug":"biden-claims-credit-for-employment-recovery-compares-job-creation-record-to-trump-era","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-claims-credit-for-employment-recovery-compares-job-creation-record-to-trump-era\/","title":{"rendered":"Biden takes credit for job recovery, compares it to Trump era."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-claims-credit-for-employment-recovery-compares-job-creation-record-to-trump-era%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2019964&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<h2>President Biden Touts Economic Performance Following August Jobs Report<\/h2>\n<p>WASHINGTON\u2014President Joe Biden delivered a speech at the White House on Friday, highlighting his economic performance in\u200b response to his predecessor&#8217;s claims about greater employment gains. \u200dThe speech \u200dcame \u2063after\u2063 the release of the August jobs report, which exceeded consensus estimates by adding <a href=\"https:\/\/www.theepochtimes.com\/article\/us-economy-adds-187000-new-jobs-unemployment-rate-climbs-5484683\" target=\"_blank\" rel=\"noopener\">187,000 jobs<\/a> to the U.S. economy.<\/p>\n<p>Although\u200b this was the third-weakest jobs report under President Biden, it was still\u200c seen as\u200d a positive \u2062sign for the labor market&#8217;s resilience. The overall number of jobs has\u2064 increased above\u200c pre-pandemic levels, with a difference of approximately 4 million\u200c more jobs in August 2023 compared to \u200bFebruary 2020.<\/p>\n<blockquote>\n<h3>Related Stories<\/h3>\n<ul>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/epochtv\/biden-walks-away-from-questions-about-interactions-with-sons-foreign-business-partners-economic-woes-5485216\">Biden Walks Away From Questions About Interactions With Son\u2019s Foreign Business Partners, Economic Woes<\/a><br \/>\n        <span class=\"text-comp-caption\">9\/1\/2023<\/span>\n      <\/li>\n<li>\n        <a href=\"http:\/\/www.theepochtimes.com\/epochtv\/biden-remarks-on-august-jobs-report-5484891\">Biden Remarks on\u2062 August Jobs Report<\/a><br \/>\n        <span class=\"text-comp-caption\">9\/1\/2023<\/span>\n      <\/li>\n<\/ul>\n<\/blockquote>\n<p>In his speech at the Rose Garden, President Biden declared\u200d that America\u200d is currently experiencing its strongest\u2062 period \u2064of job creation ever. He emphasized the contrast between the current\u2062 situation and\u2064 the job losses that occurred not long ago, stating, &#8220;It wasn&#8217;t that \u200blong ago that America was\u2063 losing jobs. In fact, my predecessor was one of only two presidents in history who entered\u2063 his presidency and left with fewer jobs than\u2064 when he entered.&#8221;<\/p>\n<p>President Biden also highlighted the 13.5 million new jobs created by employers since he took office in \u200dJanuary 2021.<\/p>\n<div class=\"shortcode\">\n<div class=\"lazyload-wrapper\">\n<div class=\"lazyload-placeholder\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>However, some critics argue that \u200bPresident Biden is wrongly attributing all the credit to\u2064 his policies without considering the return to work resulting from the reopening of businesses, the government, and schools after the pandemic-related shutdowns in 2020. It is true that the economy was already\u2064 improving and job creation had begun before President\u200d Biden&#8217;s term.<\/p>\n<p>Former\u200b President Donald Trump, \u200bwho is \u200dseeking the\u2062 Republican nomination for president \u200bin 2024, recently claimed that President Biden&#8217;s record of job creation <a href=\"https:\/\/www.politifact.com\/factchecks\/2023\/aug\/08\/donald-trump\/donald-trump-vastly-underestimates-job-gains-under\/\" target=\"_blank\" rel=\"noopener\">pales<\/a> in comparison to his own. According to data from \u200dthe Bureau of Labor Statistics, the U.S. economy added approximately <a href=\"https:\/\/fred.stlouisfed.org\/series\/PAYEMS\" target=\"_blank\" rel=\"noopener\">5.4 million<\/a> jobs in the first\u200d 30 months of\u2063 President Trump&#8217;s term, which predates the\u200d pandemic. In contrast, President Trump claims that only 2.1 \u2062million new jobs were created during\u2063 President Biden&#8217;s \u200bfirst 30 months \u200cin \u2062office.<\/p>\n<div style=\"margin-left:0;margin-right:0;max-width:1200px\">\n<figure style=\"width:640px;margin-left:auto;margin-right:auto\" class=\"alignnone\"><figcaption>Former \u200dPresident Donald Trump speaks \u200cas the keynote speaker at\u2063 the 56th Annual Silver Elephant Dinner hosted by the South Carolina Republican Party in Columbia, S.C., \u200bon Aug.\u200d 5, 2023.\u200b (Melissa Sue Gerrits\/Getty Images)<\/figcaption><\/figure>\n<\/p><\/div>\n<p>The Trump campaign later\u2064 clarified to \u2064 <a href=\"https:\/\/www.politifact.com\/factchecks\/2023\/aug\/08\/donald-trump\/donald-trump-vastly-underestimates-job-gains-under\/\" target=\"_blank\" rel=\"noopener\">PolitiFact<\/a> that their figure did not include workers returning from pandemic layoffs.<\/p>\n<p>President \u2064Biden, however, disagrees and believes he deserves all the credit for the job\u2064 recovery \u200ddue to his policies. During his Rose Garden \u2063speech, he stated, &#8220;We created more jobs in\u2062 two years \u2062than a president ever created in a single four-year term. We did it in two years. We recovered all\u2064 the jobs lost\u200d during\u200c the pandemic.&#8221; President Biden also expressed confidence that the Inflation Reduction Act, one\u2064 of \u200chis \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/here-are-the-dems-refusing-to-endorse-a-biden-run-in-2024\/\" title=\"Here Are The Dems Refusing To Endorse A Biden Run In 2024\">key legislative wins<\/a>, will create over 1.5\u200d million jobs in the next decade by \u2062investing in\u200b clean energy\u2062 and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-union-leader-slams-bidens-job-killing-order-cost-us-jobs-needs-to-consider-future-of-country\/\" title=\"Top Union Leader Slams Biden\u2019s Job-Killing Order: \u2018Cost Us Jobs,\u2019 Needs To Consider \u2018Future Of Country\u2019\">addressing climate change<\/a>.<\/p>\n<div style=\"margin-left:0;margin-right:0;max-width:1200px\">\n<figure style=\"width:655px;margin-left:auto;margin-right:auto\" class=\"alignnone\"><figcaption>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-claims-credit-for-employment-recovery-compares-job-creation-record-to-trump-era\/\" title=\"Biden takes credit for job recovery, compares it to Trump era.\">labor force\u2062 participation \u2062rate chart<\/a>. (U.S. Bureau of\u2062 Labor Statistics and the St. Louis Fed)<\/figcaption><\/figure>\n<\/p><\/div>\n<h2>Labor Force Participation<\/h2>\n<p>The August\u2064 jobs report from the Bureau of Labor\u2062 Statistics also revealed an increase in labor\u2063 force participation, indicating that more people are\u2063 returning to the\u200c workforce. The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/why-social-security-is-the-worlds-largest-ponzi-scheme\/\" title=\"Why Social Security Is The World\u2019s Largest Ponzi Scheme\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-janet-yellen-we-have-to-consider-rising-inflation-rates-when-doing-stimulus-package\/\" title=\"Treasury Secretary Janet Yellen: \u2018We Have To Consider\u2019 Rising Inflation Rates When Doing Stimulus Package\">labor force participation<\/a> rate<\/a>, which\u2063 measures the proportion of Americans who work or\u2062 are actively seeking employment, rose to 62.8 percent. However, this rate remains below the pre-pandemic level of 63.3 percent in February 2020.<\/p>\n<p>According to the\u2063 report, the unemployment \u200crate in\u200b August rose to 3.8 percent from 3.5\u200d percent in July. While\u200d this is the highest level since February last year, it is still relatively low compared \u2064to \u2062previous years. Stoyan Panayotov, founder and\u2062 CEO of Babylon Wealth Management in California, sees the rise in the unemployment rate\u200d as a positive sign, stating, &#8220;Unemployment is\u200b rising because more Americans are returning to work,&#8221; in \u2062a note to clients.<\/p>\n<div>\n<figure style=\"width:579px\" class=\"alignnone\"><figcaption>Source: Deutsche Bank<\/figcaption><\/figure>\n<\/p><\/div>\n<p>Deutsche Bank economists believe that the latest jobs\u200d report indicates progress towards a \u200cbetter balance between labor market supply and \u2064demand. \u200bHowever, their recent report estimates that 100 million people are currently not in \u2062the labor force, which \u2064is 5\u200c million more than the \u200cpre-COVID level. The report also highlights that job\u2063 creation growth has been highest in industries that were hit hardest by the pandemic.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden praised his economic achievements in response to his predecessor&#8217;s assertion of greater employment gains. The Bureau of Labor Statistics reported that the U.S. economy added 187,000 jobs in August, surpassing expectations.<\/p>\n","protected":false},"author":531,"featured_media":2019965,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2019964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2019964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/531"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2019964"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2019964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2019965"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2019964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2019964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2019964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}