Inflation eclipses strong job gains

Rehoboth Beach, Delaware – President Joe Biden came before television cameras on Friday to celebrate another month of healthy job growth and low unemployment and the fastest pace of hiring in four decades under his leadership.

“The labor market,” the president said, “is the strongest it’s been since just after World War II.”

Yet, as is often the case, the subject quickly turned to runaway inflation which has become the economic issue most on the minds of Americans and one of the main reasons for the decline in credit ratings. public approval of Biden.

President Joe Biden speaks about the May jobs report, Friday, June 3, 2022, in Rehoboth Beach, Del.

Voters have made it clear in the polls that their attention is much more focused on soaring gas and food prices than on the plentiful availability of jobs. A year-long acceleration in prices following 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.

That momentum on Friday left Biden vowing to fix the economy in an attempt to bolster public confidence and his declining polling numbers.

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