America has now reached an unemployment rate never seen before since 1968 to 1969!

[Hardkill]

The January 2023 jobs report just came out today and not only did the USA make a very shocking net gain of 517,000 jobs last month, but also the unemployment rate now dropped down to 3.4%!

America has never had its nationwide unemployment rate go down to exactly 3.4% or lower since since the last few months of 1968 to the first few months of 1969! We're now talking about going all the way back to either the last few months of Lyndon B. Johnson's presidency (Sept. 1968 to Jan. 1969) or the first few months of Nixon's presidency (Jan. 1969 to May 1969)!

Moreover, even if you went further back in time, the unemployment rate in the US was never as low as 3.4% from the years 1954 to 1967!

The last period of time the US unemployment rate ever went below 3.4% was from 1951 to 1953. That was when the last 3 years of Harry Truman's presidency and the first year of Eisenhower's presidency occurred!

That means Biden beat presidents Ford, Carter, Reagan, H.W. Bush., Clinton, W. Bush, Obama, and Trump for having the lowest unemployment rate record over the past 54 years!

https://fred.stlouisfed.org/series/UNRATE

 

Btw, wage and salary gains for employees around the country have still been very robust. Yet, at the same time, high wage and salary inflation and high compensation cost inflation have all continued to cool down at a significant rate in recent months, which is still good news for the Fed needing to tamp down the high inflation problem we still have in our country.

Plus, the Biden administration had now presided over the creation of approx. 800,000 manufacturing jobs within just the first 2 years of Biden's presidency! Now, the total number of people in America with manufacturing jobs has undoubtedly been the highest it has ever been since November 2008!

https://fred.stlouisfed.org/series/MANEMP

https://www.commerce.gov/news/blog/2023/02/news-unemployment-its-lowest-level-54-years#:~:text=Today%2C the U.S. Department of,in the last two years.

when Trump was president he said that in manufacturing "I brought back 700,000 jobs. (Obama and Biden) brought back nothing." That of course was a major overstatement. He actually presided over about 450,000 manufacturing jobs prior to the pandemic during his first 3 years of his presidency. This was of course before he ended his presidency with having presided over a major net loss of all kinds of jobs throughout the entire country. Trump has probably become the first president in the US since Herbert Hoover in 1933, that left office with less jobs occurring in America than there were at the beginning of his presidency.

Obama, in actuality, presided over the creation of about 916,000 manufacturing jobs by the end of his presidency in 2017, and that was right after the devastating effects of the 2008 financial crisis recession peaked around 2009-2010.

https://www.statesman.com/story/news/politics/elections/2020/10/01/fact-check-did-trump-overstate-manufacturing-job-gains-during-debate/114197350/

So much for all of Trump's talk about him being able to bring manufacturing jobs back to America like never before. Hahaha!

[DieFree]

Biden aint shit unless he does something house. As a working millennial, I can't afford a house in places I want to live i.e. places with good jobs.

[Hardkill]

14 minutes ago, DieFree said:

Biden aint shit unless he does something house. As a working millennial, I can't afford a house in places I want to live i.e. places with good jobs.

Trump and Obama weren't able to make Housing any more affordable than it is now.

[Stovo]

There are too many unproductive businesses because they weren't allowed to fail during Covid. 

There hasn't been a proper recession since 2009 and even that one was notable for the number of bailouts that occurred.