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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (188369)	6/4/2022 8:29:12 AM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 219150

Inflation overshadows robust job gains, so Biden hits back at Elon Musk President Joe Biden speaks about the May jobs report, Friday, June 3, 2022, in Rehoboth Beach, Del. (AP Photo/Patrick Semansky) By BOSTON HERALD WIRE SERVICES \| PUBLISHED: June 3, 2022 at 7:48 p.m. \| UPDATED: June 3, 2022 at 7:48 p.m. President Biden came before television cameras Friday to celebrate yet another month of healthy job growth and low unemployment — but left insulting Elon Musk for further raising the specter of inflation. When asked about Musk’s “super bad feeling” on the economy, Biden shot back with a dig after saying Ford was ramping up electric car production and hiring. “So, you know, lots of luck on his trip to the Moon. I mean, I don’t — I mean, you know …” the president said as he left the press conference. “The job market,” the president declared earlier in his speech, “is the strongest it’s been since just after World War II.” Yet just as it often does, the subject soon turned to the rampant inflation that has emerged as the economic issue most on Americans’ minds and a leading reason for Biden’s sunken public approval ratings. Voters have made clear in surveys that their attention is focused much more on soaring gasoline and food prices than on the plentiful availability of jobs. A year-long acceleration of prices in the aftermath of the pandemic recession — to the highest levels in four decades — has left many Americans struggling with the cost of necessities and dissatisfied with the overall economy. On Friday, that dynamic left Biden promising to fix the economy to try to shore up public confidence and his flagging poll numbers. “There’s no denying prices, particularly around gasoline and food, are real problems,” the president said in Rehoboth Beach, Delaware, where he is spending the weekend. “I understand that families who are struggling probably don’t care why prices rose. They just want to bring them down.” It was a stark illustration of the shifting political and economic landscape Biden and Democrats in Congress face as midterm elections loom. For decades, as inflation remained tame, job growth and unemployment tended to be the top economic metrics by which voters judged presidents. But now, Biden faces a new era in which, for most Americans, chronically high inflation has eclipsed a consistently strong job market. The shift shows how the seemingly timeless truths of American politics can become reshaped by the lived-in realities of voters in which old priorities fade and new fears emerge. At just 3.6%, the unemployment rate is near a half-century low, and on Friday the government reported that employers added 390,000 more jobs in May — roughly double the pre-pandemic pace. Businesses advertised more than 11 million open jobs in April, down only slightly from a record high in March. Yet Americans are gloomy about the economic outlook and Biden’s record. Two-thirds of Americans disapprove of his handling of the economy, according to a poll from The Associated Press-NORC Center for Public Research conducted in mid-May. A now hiring sign is seen in front of a business along the boardwalk, Thursday, June 2, 2022, in Ocean City, N.J. Many seasonal businesses are struggling to find enough workers again this summer. (AP Photo/Matt Slocum)