Despite the Biden administration's boasts about economic success, government data reveals a staggering decline in full-time employment, raising concerns about the impact on the economy and individual Americans.
As the Biden administration continues to tout the alleged benefits of its economic policies, government data paints a grim picture of a hemorrhaging job market. According to the U.S. Bureau of Labor Statistics, the number of Americans reporting full-time work plummeted by over 1.7 million jobs from November 2023 to March 2024, a decline of 1.33% over a mere five-month period.
This sharp decline is the largest five-month drop in full-time employment since the Great Recession in 2009, excluding COVID-19 lockdown-related job losses. The last time such a sizable decline occurred was in 1994.
Despite these alarming figures, the Biden administration has repeatedly boasted about its economic policies. On April 11, the White House's official Twitter account claimed that "Under Bidenomics, our economy has created 15 million jobs and unemployment has remained under 4% for the longest stretch in 50 years."
However, a closer examination reveals that the vast majority of these jobs were recovered from the COVID-19 lockdowns and not "created" jobs. Compared to employment figures in January 2020, prior to the pandemic, the number of jobs added under Biden's tenure is a mere 2.98 million, a figure that pales in comparison to his predecessors.
Moreover, during Donald Trump's first three years in office, the U.S. economy added 6.33 million jobs, more than double the number created under Biden. This gap is particularly significant given that Biden's government has spent more money in a three-year period than any other president in history, excluding the 2020 lockdown.
Biden's economic agenda of expanding government programs, raising taxes, and increasing regulations has proven to be a dismal failure. Not only has it contributed to the decline in full-time jobs, but it has also fueled persistent inflation, further impoverishing American families.
As the Biden administration clings to its failing economic policies, the full-time jobs data released by the Labor Statistics Bureau serves as a dire warning that the situation is only likely to worsen. The American people are suffering under these disastrous policies, and it is imperative that the administration reverses course before the damage becomes irreparable.
