Economic Angst in the Heartland

By Steve Cortes

Bidenomics is failing America, infecting the land with a persistent and intensifying cynicism, despite attempts by the White House and a partisan press to impose misleading narratives on the electorate.

For example, the media rushed to heap praise upon last week’s modestly constructive jobs report. The actual numbers reveal a mixed bag – not a terrible report, but certainly not a parade-worthy one, either.

The 199,000 jobs added in November sits below the average for the year 2023, and far off the prior levels of 2021 and 2022. Regarding jobs added since Biden took office, the easy part is over, meaning the task of regaining the lost jobs resulting from the COVID panic is largely complete – and now net new job creation languishes.

Moreover, a sector analysis of this latest jobs report shows that 70% of the jobs were in either healthcare or government positions. More productive private sector jobs continue to lag, with manufacturing payrolls still flat in 2023.

In addition, even modestly positive economic data points cannot compensate for the harm inflicted upon workers for most of Biden’s tenure. Specifically, real wages – incomes adjusted for inflation – declined for a record 24 straight months, and recent small recoveries in real wages cannot come close to making workers whole.

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