Where the jobs market and economy stand four months out from the election
By
Zachary Halaschak
July 6, 2024 5:00 am
Another month, another jobs report, and another day closer to the November elections. Here is the state of play with the economy and labor market four months out from Election Day.
As of Friday, the election is exactly four months away. Economists and political scientists alike have been watching the jobs reports and other economic reports, like those for inflation, closely given the coming presidential clash and President Joe Biden’s poor economic approval ratings.
The economy added 206,000 jobs in June, and the unemployment rate rose a tenth of a percentage point to 4.1%, the Bureau of Labor Statistics reported on Friday. That was about in line with expectations that around 190,000 jobs would be added.
Job growth has been healthy under Biden, with more jobs added every single month of his presidency. But despite that, and the historically low unemployment rate, voters have soured on the economy. That is in large part because of the towering inflation experienced since Biden entered office. Things are much more expensive now than when former President Donald Trump was in office, which has colored perceptions of the broader economy.
And with just four months out, experts say that not much is likely to change in terms of voters’ feel of the economy between now and November.
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https://www.washingtonexaminer.com/policy/finance-and-economy/3071402/jobs-market-economy-stand-four-months-from-election/
