The paradox is that there is no guarantee that the jobs boom will keep Biden in the White House beyond November, completely scrambling the adage “It’s the economy, stupid” that wins elections.
For 39 straight months, employers have added jobs despite many predictions that the United States was destined for a recession.
The latest data released Friday overshot analysts’ expectations by a huge margin, with employers adding 303,000 jobs.
That takes the tally over the past 12 months to more than 2.8 million hires — and economists expect the upward course to continue.
“We do think there’s still room for growth” into next year, Jeremy Schwartz, a senior U.S. economist at Nomura, told DealBook.
Persons:
Biden, Port, —, Jeremy Schwartz, DealBook
Organizations:
Labor, Nomura
Locations:
U.S, White, United States, Ukraine, Gaza, Panama, Red Sea, Port of Baltimore