During a press briefing on January 27, 2023, White House Press Secretary Karine Jean-Pierre had this to say about the state of the United State’s economy under President Joe Biden’s administration: “This was a report better than expected. We are seeing a growing economy. We are seeing records of almost 11 jobs created under this president.”
This is unlike what Jean-Pierre said during another recent press briefing discussing the U.S. economy, where she stated, “This is a President that came into office — 9 million people had lost their jobs, the unemployment rate was 6.3 percent, and hundreds of thousands of small businesses had closed their doors. And in the past two years, we’ve created nearly 11 million jobs, the unemployment rate is at a record low at 50 — a 50-year record low. And the last two years were the best years for small businesses’ applications on record.”
According to the New York Post, the U.S. saw a peak of 152.5 million nonfarm employees in February 2020. However, the disease outbreak caused a significant decrease in that number, dropping it to 130.5 million. Although there has been a slow increase in employment since then, the current count stands at 150.9 million, which indicates that zero new jobs have been created. So, some doubt that even 11 jobs have been made.
Despite assertions that the economy is on the rise and unemployment is at an all-time low, a significant number of Americans are losing their jobs and struggling to cover basic living expenses as a result of steep price increases. It is speculated by some that the recovery process for the economy may be prolonged, particularly if external factors continue to disrupt the natural functioning of the market.