Much ado is being made of the fact that unemployment claims are at a two month low. Biden will most assuredly make a big deal out of it. That number means little. What matters is the labor force participation rate. For July, that stands at 62.1 percent.
Back at the turn of the millennium, 66 percent of Americans were working. That number dropped during Obama’s Presidency, all the way to 62.8 percent by December of 2016.
Then Trump took over. By February of 2020, it had regained a quarter of what was lost and rebounded to 63.4. The left couldn’t have that, so enter the COVID shutdown. Now Biden is rejoicing as the labor force participation rate hovers at a level that is even less than Obama’s low.