News

Biden Administration Faces Uphill Battle to Boost Public Confidence in Economy

Despite positive job numbers, Americans are feeling pessimistic about the economy due to high inflation, the ongoing effects of the pandemic, and political polarization.

Jamie Jackson
April 28, 2023

Reading Time: < 1 minute

While the unemployment rate fell to 3.5% in March and over 236,000 jobs were added, President Joe Biden has not seen a political payoff for the good economic news.

Despite positive job numbers, Americans are feeling pessimistic about the economy due to high inflation, the ongoing effects of the pandemic, and political polarization, according to the Associated Press.

The Federal Reserve expects the jobless rate to increase to 4.5%, while the Congressional Budget Office forecasts a 5.1% unemployment rate. Biden’s proposed budget also models an increase to 4.3% from the current rate.

Wall Street analysts say the Fed may raise interest rates to tame inflation, which could cause a decline in demand and could increase joblessness.

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Jamie Jackson is an Emmy-nominated television and radio broadcaster who has served American Urban Radio Networks since 2015. He previously covered the Obama and Trump administrations as a White House Correspondent and Pool Reporter for AURN News. Jamie hosted a national PBS television special in 2023 and over the years has worked as a TV news anchor and local NPR host for stations across the country. His work has been honored by numerous organizations, including the NAACP and the Virginia Farm Bureau.