https://nymag.com/intelligencer/bidens-unpopularity-is-more-myst…
The economy is doing well. So why do so many people hate it?
America’s unemployment rate is hovering at historic lows. The percentage of prime-age Americans in the labor force is higher than it’s been since the 2008 financial crisis. Thanks to an abundance of employment opportunities, lower-income workers have recovered roughly 25 percent of the increase in wage inequality that accrued between Ronald Reagan’s election and Joe Biden’s. Inflation is falling. A gallon of gasoline costs roughly 30 percent less than it did one year ago.
One popular gauge of the economy’s strength is the “misery index,” which simply adds together the unemployment and inflation rates. That index is lower now than it’s been during 83 percent of all months since 1978.
@Activ1stPaella11mos11MO
2%! Wow!
@MadOryx11mos11MO
I don’t think anyone actually believe that stat. It must be excluding housing or something.
@VetoBrandon11mos11MO
So after student loan payments resume, real earnings will be down! Great stuff
@L3gislat1veMoth11mos11MO
Maybe the solution to this mystery is that the pandemic started 3.5 years ago, implying an very tiny increase in real wages even if you aggressively correct for workforce composition changes. Anyway if things stay good, his numbers will improve.
@FilibusterOliviaLibertarian11mos11MO
We are so polarized that polling questions like this one don't fetch honest answers any more.
@PloverAutumn11mos11MO
I think inflation was shocking for people because pretty much everyone under 50 never had to deal with it. Even thought it's going down, people are upset it happened in the first place.
@R3f0rmAnteater11mos11MO
Bidens unpopularity is an indication of how the hype of the right wing media to be negative on every count and lie to the American people works. For some reason people get a fix from negativity.
@YearningOryx11mos11MO
Because the media both sides every damn thing. They literally complained about egg prices this past weekend. Eggs are a dollar or under now, they just don’t have a clue because they are either not shopping or going to Whole Foods. One former President is indicted yet eggs.
@LovingRightW1ng11mos11MO
Working Americans have had wages suppressed for decades. Yes, they're improving but for many Americans they are still way behind what you need to live without insecurity. Of course Republicans would make it all much much worse; Biden deserves credit but we're not there yet.
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