Biden Boom? President Needs a Blockbuster Jobs Report to Fulfill His Promise
With so many broken promises, why should anyone trust President Biden on infrastructure?
June 30, 2021 - Blog - Press Releases - Select Revenue Measures - Worker and Family Support
June’s Jobs Report is a “make or break" moment for the Biden Administration. After two consecutive months of underwhelming job reports, a third monthly disappointment would reveal more broken promises by President Biden. Here’s what to look for in this Friday’s jobs report:
JOBS
President Biden is failing on his jobs promises from the $1.9 trillion American Rescue Plan “stimulus," despite huge advantages he inherited, including vaccines, a reopening economy, and trillions in emergency spending. He has added merely one third of the jobs promised at this point, and will need 1.56 million jobs added in June to get back on track.*
WAGES
President Biden’s “stimulus" didn’t bring us jobs-it brought inflation. Prices are rising twice as fast as paychecks - so American families are falling behind. Real wages have declined since President Biden took office.
WORKERS
This is another big number to watch. Labor force participation remains below the pre-COVID rate and is stuck alarmingly low. The June Jobs report’s labor force participation rate needs to rise toward 63.3% from the current 61.6% to show any meaningful progress. If Biden can’t get people back to work, our economic rebound will continue to suffer.
With so many broken promises, why should anyone trust him on infrastructure?
