Author Topic: Look Who Biden Is Asking For Advice On How To Create Jobs  (Read 44 times)

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Offline mystery-ak

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Look Who Biden Is Asking For Advice On How To Create Jobs
« on: November 17, 2020, 09:14:19 AM »
Look Who Biden Is Asking For Advice On How To Create Jobs
I & I Editorial Board
November 17, 2020

I&I Editorial

If the business executives Joe Biden met with Monday are an indication of the kind of advice he’s seeking out on the economy, the country is in for trouble.

At Monday’s briefing, Biden was practically giddy about a meeting he’d had earlier in the day with CEOs at four big companies – Microsoft, The Gap, Target, and General Motors – along with five union bosses.

“It was really encouraging, quite frankly,” he said, to get “business and labor agreeing on the way forward.”

“I wish you could have all heard the conversation.”

Why these companies? Biden didn’t say. But if he wanted advice on how to grow the economy and create jobs, he picked a sorry lot to get it from.

The Gap closed 230 of its stores last year. GM’s sales have been steadily declining since 2016. Target’s annual revenue growth has been more or less flat since 2013. Microsoft’s glory days are well in the past.

As far as jobs go, the four companies had a combined loss of 10,000 jobs from 2015 to 2019 – years overall job growth topped 8% – according to data from Macrotrends. Only Microsoft created a significant number of new jobs over those years.

Biden’s choice of economic experts isn’t any more reassuring.

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