Bidenomics is what President Joe Biden plans to run his re-election campaign on and the numbers — if not the public sentiment — look positive in many ways. The S&P 500 is up nearly 16% since Biden took office (despite a savage 2022 bear market), inflation has cooled, and the job market remains as deep and hot as the ocean around Florida.
It’s a rising tide, as the proverb goes, that is lifting all boats — with the seafaring of women workers sailing along particularly well, according to recent reports. Writing at The Messenger, Rose Khattar and Sara Estep report that “women aged 25 to 54 are employed at their highest rates on record — marking the fourth month in a row that women’s employment has broken or matched records.”
Citing a current 3.1% women’s unemployment rate with a record high of 15.5% in April 2020, the authors add that “the share of Latinas aged 20 or over holding a job in July 2023 are on par with historic highs, and Black women’s unemployment, while up marginally from record lows in spring, is falling and still well below its historical average.”
White House Principal Deputy Press Secretary Olivia Dalton shared the Khattar post below, amplifying the message that women have been among the core groups impacted most positively by the administration’s economy-aimed policies.
👏Month after month women are breaking employment records. Why? Read to find out (with, @sara_estep_ )👇https://t.co/u2PJdBwrQ8
— Rose Khattar (@rose_khattar) August 8, 2023
It’s a message the Biden administration wants to spread far and wide — and take credit for — because the enthusiasm for Bidenomics among Americans, despite strong consumer confidence figures, isn’t in Joe Biden‘s view commensurate with the economic reality.
The White House boasts of Bidenomics: “This strong labor market recovery has also led to better pay and working conditions. Inflation-adjusted income is up 3.5% since the President took office, and low-wage workers have seen the largest wage gains over the last year. Job satisfaction reached its highest level on record last year. And the prospect of good jobs has drawn people off the sidelines and into the workforce.”
13.4 million jobs have been added to our economy on my watch.
— President Biden (@POTUS) August 4, 2023
More than any other president in a full 4-year term, and heartening that our economic agenda is creating opportunity for working for families. pic.twitter.com/o3VrhKuySq
The Biden administration is fighting an information battle against powerful Republicans like Kevin McCarthy who want to define Bidenomics differently, as McCarthy does in sharing the post below.
(Note: the first three bullet points are a result of the Federal Reserve’s interest rate raises to counter inflation, which is the cause of the fourth point.)
This is what Bidenomics looks like for Main Street America: pic.twitter.com/lgXI8HFOkO
— House Committee on Small Business (@HouseSmallBiz) August 7, 2023
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