More good news for President Biden

| 7:00 pm EDT July 10, 2024
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The June jobs report came in showing a bit of much needed good news for President Biden with a slightly better than expected number of jobs created, yet another month of steady growth that we’ve seen over the last three years, as the administration continues to focus on building a robust economy from the middle class up, a reverse of the false promises made by trickle down economics.

Unemployment remained steadily low, while labor force participation hit a record high, up 0.1% since last month. Although right-wingers love to claim that low unemployment is largely due to people who gave up looking for jobs, the report also contradicts this nonsense directly – with the rate of discouraged workers and those holding part-time jobs remaining at a steady 7.4%, while the prime age rate of labor force participation is the highest it’s been in 22 years.

This is all happening while stock market futures are going up higher, and a solid sign that we may be headed for rate cuts in September. Although Republicans have loved to pretend that they’re the “fiscally responsible” party that’s better for the economy, a myth that’s refused to die since the Reagan years, we’re watching this myth be debunked in real time, as every Democrat running for re-election can tout the strong economy as a reason for re-election, regardless of the media’s own spin on the issue. This is just one of many reasons to re-elect President Biden on Nov 5, along with Democrats down the ballot. Donate to Palmer Report

Dear Palmer Report readers, we all understand the difficult era we're heading into. Major media outlets are caving to Trump already. Even the internet itself and publishing platforms may be at risk. But Palmer Report is nonetheless going to lead the fight. We're funding our 2025 operating expenses now, so we can keep publishing no matter what happens. I'm asking you to contribute if you can, because the stakes are just so high. You can donate here.