Job growth under President Joe Biden isn't nearly as strong as headlines make it seem.
is thriving under his policies, but a thorough look at the data released last week by the Bureau of Labor Statistics shows the economy is far weaker than he says it is.rate under 4% look solid. But the growth is in part-time jobs. There are more full-time jobs but only in nonproductive sectors, such as government and government-subsidized healthcare.
Twelve months ago, 134,287,000 Americans had full-time jobs. Today, that number has fallen to 132,940,000. For all Biden’s talk, there are a million fewer people with full-time jobs now than there were a year ago. By contrast, some 26,744,000 people had part-time jobs a year ago, but that number has risen to 28,632,000 now. The number of people reporting they work more than one job has also risen by almost half a million in the past year.
The sectors where jobs are being created should also alarm anyone interested in the long-term strength of the economy. Ideally, we’d be creating jobs in productive sectors, such as manufacturing and software. But that is not happening. The fastest-growing sector under Biden has been healthcare, which is largely financed by government spending through Medicare, Medicaid, and insurance subsidies, while the second-fastest-growing sector has been government jobs.
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