Unemployment fell to 3.5% under Biden. For how much longer?
The Associated Press
WASHINGTON (AP) – President Joe Biden keeps seeing good economic news and bad public approval ratings.
The unemployment rate has fallen to 3.5% and more than 236,000 jobs were added in March. But there’s been no political payoff for the president.
US. adults are skipping past the jobs numbers and generally not feeling good about the economy.
To explain that pessimism, White House aides cite high inflation, the hangover from the pandemic and Republicans’ belief that the economy is sour whenever there’s a Democrat in the White House.
The challenge for Biden might be the expectation that unemployment will get much worse this year.
The fear is that interest rates have to rise in order to beat inflation.
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4/10/2023 8:35:09 AM (GMT -5:00)