Though Stabenow thanks Biden for best economy in decades, job numbers still down, wages flat
Democratic U.S. Sen. Debbie Stabenow’s recent praise for President Biden’s handling of the U.S. economy is meeting resistance from the economy itself.
“Thanks to @POTUS and @SenateDems, we’re seeing the best economy for American workers in decades,” Stabenow tweeted April 25. “Americans are getting higher wages, better benefits and better jobs across across the board.”
At that time, there were still 1.6 million fewer Americans with jobs, down 1% from the eve of the pandemic in February 2020.
Inflation, which is at the highest rate since the end of the Carter era, has wiped out any gains in average wages. Average annual inflation is 8.6% through May, according to Trading Economics. That’s the fastest increase since 1981.
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.