Last updated on July 18th, 2023 at 01:22 pm
The economy beat job growth estimates by adding 379,000 new jobs in February, as signs are that the economy is moving in the right direction.
NBC News reported, “The U.S. economy added 379,000 jobs in February, roundly beating economists’ estimates of 210,000, and indicating that one year into the pandemic, the labor market is finally showing signs of recovery. In the first full monthly employment report under President Joe Biden, the unemployment rate fell to 6.2 percent,from 6.3 percent in January, according to data released Friday by the Bureau of Labor Statistics.
The stimulus is widely expected to boost the economy even more, and the increase in vaccinations will allow the pandemic to subside and more businesses to return to normal.
After a year of struggle, the job market may finally be showing signs of recovery. There are still problems with long-term unemployment and labor market participation, but once the pandemic is under control new policies like an infrastructure bill could add more jobs and increase labor market participation.
The economy is not recovered, but Republicans are counting on a bad economy for the 2022 midterm elections, and early indicators are that things are looking up for Biden and the Democrats.
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