The Democratic leadership is hell-bent on making us believe that the Biden Boom is real and it is spectacular. It’s really neither of those two things. What happens is that we are in such a bad situation, and Republicans want to make it worse, that we mistakenly confuse the light from a small bulb with that of a reflector.
Let’s take a closer look at that vaunted «boom«: While Biden didn’t match January’s numbers and his record 504,000 new jobs, the February Jobs Report beat expectations, with a not inconsiderable 311,000 new jobs added forcibly. US labor force last month. That, without a doubt, is good, but we must penetrate to the heart of the figures and not stay only in their shell.
Notable job gains have occurred in leisure and hospitality, retail, government, and healthcare as more people have felt comfortable returning to work in person after the long COVID pandemic.
Employment declined in information technology, transportation, and warehousing, according to the report.
Data released earlier this week for January showed there were 1.9 job openings for every person looking for one. However, the job market is still below pre-pandemic growth projections by more than 3 million people. (Of course, they don’t tell you that these are jobs that pay less than people’s logical expectations and that many of them are temporary and without benefits).
Economists had forecast only a modest 200,000 new jobs for February, and while unemployment rose slightly to 3.6% from 3.4%, the outlook for spring is cautiously optimistic.
The statistics in the report also took into account the impact of the pandemic on an aging American workforce. (And that it will continue to age if we continue to lengthen the retirement age, – soon to be 300 years).
The massive generation of “Baby Boomers” is retiring in record numbers, as many have left the workforce for care-related needs and health issues like prolonged Covid; and there were hundreds of thousands of workers who died from Covid.
Wages are also rising (but not «slowly» as they want to present it to us, but embarrassingly), with average hourly earnings growing 0.2% month-on-month and up 4.6% from February figures. of 2022. (Which is NOTHING, when the prices of almost everything have REALLY increased between 10% and 40% – that is, we work more, but we are MUCH poorer).
But the news on the jobs front most likely won’t deter a federal rate hike, as the Fed is expected to implement a half-point hike at its meeting later this month. (In other words, they continue to be determined to control inflation by making us pay, not the real culprits of it, those who are becoming more and more, well, MUCH MORE embarrassingly rich at the expense of that inflation).
President Joe Biden, who after more than two years still can’t accuse Trump thanks largely to a weak and ineffective Justice Department, pushed through the Jobs Report on Friday and also managed to fire a few shots at Republicans who continue to try to minimize even the good, or half good, things that the Democrats offer.
The harsh reality here is that Biden has accomplished some things and remains hell-bent, amid staunch Republican opposition, to accomplish others. That is a reality that cannot be denied. But there’s also no denying the fact that «moderate» measures and «cosmetic» changes are still an aspirin for American society’s protracted migraine, not a cure.
Millions of families do not get to cover their expenses by the end of the month, while we support and maintain a war in Eastern Europe that only benefits Big Oil and our Military Industrial Complex, and Biden asks for $30 billion more in the military budget (it will reach $1.1 trillion) to make military contractors filthier rich.
Biden kept Cuba on the infamous list of Sponsors of Terrorism knowing that this is a ruthless lie that is hurting a people who send doctors to the world and not bombs to blow up a gas pipeline on which millions of Europeans depended (yes Biden, we already know that it was you, and the world also knows it – check the video below) and attacks the only president in Latin America who has had the balls to face with extraordinary force and more extraordinary results the three-headed monster that harasses our peoples: insecurity, the corruption of the powerful (businessmen and politicians) and the lies of the press at the service of the former.
As long as we don’t attack Corporate America head-on, with devastating force, we will continue to live on palliatives and hope. While the Republicans continue to advance their deep evil, and the Democrats continue to applaud the sellers of hope in vials of snake oil-like seals, we will continue to destroy the Planet and the increasingly uncertain inheritance of our children.