President Joe Biden just got even more bad news about his disastrous economic policies as the unemployment rate shot up in all but three states in the country over the course of the last year. And yet, despite this reality, the ever delusional blunderer-in-chief continues to campaign from coast-to-coast bragging about how well he’s handled our economy. If this isn’t proof of his cognitive decline I don’t know what is.
According to the Daily Caller:
The states with the biggest jump in individual unemployment rates year-over-year as of February were Rhode Island, Maine and Connecticut, which all increased 1% or greater, while Massachusetts, Pennsylvania and Wyoming were the only states that saw statistically significant declines, according to data from the Bureau of Labor Statistics (BLS). Biden has made repeated attempts to convince voters of the strength of the American economy despite factors like persistently high inflation, such as at the State of the Union on March 7, where the president described the U.S. economy as the “envy of the world,” according to NPR.
California had the highest unemployment rate of any state at 5.3%, followed by D.C. at 5.1% and Nevada at 5.2%, according to the BLS. North Dakota had the lowest rate at 2.0%, followed by Vermont at 2.3% and South Dakota at 2.1%.
The overall unemployment rate was 3.9% in February, 0.3 percentage points higher than a year earlier, according to the Federal Reserve Bank of St. Louis. The respective unemployment rates rose statistically significantly in 28 states, according to the BLS.
It’s exceedingly difficult for companies to create and sustain staff members when the cost of doing business continues to skyrocket thanks to inflation going through the roof and an increase in taxes. This inevitably leads to employers having to cut workers and increase the prices of their products and services, which puts a strain on customers too. And when nothing is being done to bring either one of these problems to an end, well, things go from bad to worse.
Illinois, Iowa, Michigan and Texas had the biggest relative jump in month-to-month employment in February, rising 0.4%, 0.7%, 0.3% and 0.4%, respectively, according to the BLS.
Nonfarm payroll employment increased in the last year in only 25 states and was not significantly changed in the other states or the District of Columbia, according to the BLS. Nevada, Alaska and South Carolina all had job increases of 3% or more.
Since President Biden took office, America has had the strongest growth of any major economy in the world.
Nearly 15 million new jobs.
The longest stretch of unemployment under 4% in 50 years.
Growth is strong.
Wages are up.
Inflation is down. pic.twitter.com/psBRGndFu4
— The White House (@WhiteHouse) March 21, 2024
“I inherited an economy that was on the brink,” Biden remarked during the State of the Union. “Now our economy is the envy of the world…We’re cracking down on corporations that engage in price gouging or deceptive pricing from food to health care to housing.”
There doesn’t seem to be a single thing known to man that the radical left won’t somehow blame on former President Donald Trump. The economy was doing fantastic under his leadership. The only thing that put a ding in anything was the start of the pandemic. What we have here is Biden playing a game of “Pass the Buck.”
The BLS estimates that the U.S. added 275,000 nonfarm payroll jobs in February, even though it revised its estimations of job gains down for the previous two months by a combined 124,000. The Federal Reserve Bank of Philadelphia notes that job gains over the past year could be revised down even more as new data becomes available.
Inflation has stuck around and placed enormous stress on consumers and businesses alike, which is led to prices going up by 18.5 percent ever since Biden was sworn into the Oval Office. Inflation hit its peak at 9.1 percent in June 2022 and has managed to drop to 3.2 percent as of February of this year, which is still quite far from the Fed’s 2 percent target rate.
“Inflation remains a top concern for voters, only recently being overshadowed by immigration in a poll released Monday by The Harris Poll for Harvard University. The rise in concern about immigration comes as illegal crossings at the southern border have surged, stressing communities around the country,” the report concluded.