The February jobs report shows we are on our way to a historic recovery. With COVID-19 cases plummeting and restrictions being lifted across the country, America added a whopping 678,000 jobs – smashing forecasts and proving that Biden’s economic agenda works. Thanks to President Biden and congressional Democrats’ American Rescue Plan and Bipartisan Infrastructure Bill, our economy is well on its way to making a full recovery.
The 678,000 jobs added in February beat every forecaster’s expectations. More than nine out of every ten jobs have been gained back since the start of the pandemic.
CNN: “‘It’s mindbogglingly fast and sustained growth — well over half a million jobs added per month on average for more than a year,’ Heidi Shierholz, president at the Economic Policy Institute [said].”
The New York Times: “Job growth accelerated last month, as falling coronavirus cases brought customers back to businesses and workers back to the office.”
Axios: “The report shows the pandemic impact is fading.”
The unemployment rate fell to 3.8 percent, a pandemic-era low. Job openings are near a record high and layoffs are low.
CNN: “The unemployment rate edged down to 3.8%, also better than expected, representing a new pandemic-era low.”
ABC News: “Yet the February hiring data suggest that two years after COVID-19 sparked a nationwide shutdown and 22 million job losses, the disease is losing its grip on America’s economy.”
But even with these strong numbers, Biden remains committed to boosting made-in American goods in an effort to create good-paying union jobs, by directing more of the $600 billion in federal spending towards domestically manufactured goods each year.
Yahoo News: “U.S. President Joe Biden on Friday will announce requirements for the government to buy more made-in-America goods at a White House event where Germany’s Siemens AG will commit to new investments in U.S. manufacturing.”
Bay News 9: “Under the current rules, a product purchased with taxpayer money can be considered “Made in America” if it contains 55% of components made in the United States; Biden will announce Friday that beginning in October of this year, that threshold will jump to 60%, according to senior administration officials, which will jump to 65% in 2024 before ultimately leaping to 75% in 2029.”
Yahoo News: “Biden has vowed to direct more of the $600 billion in federal spending each year toward domestically manufactured goods in hopes that doing so will rebuild factories in hard-up regions, create blue-collar jobs and shift the country away from a reliance on competitors like China.”
Meanwhile, Republicans have been working to prolong the pandemic, and have no plan to strengthen the economy. All they’ve put forward is a proposal that would sunset Social Security and Medicare and hike taxes on retirees and more than half of Americans.
CNN: “All Americans would pay some income tax ‘to have skin in the game.’ (At present, roughly half of Americans do not pay taxes because their taxable income doesn’t meet a minimum threshold.)”
CNN: “All federal legislation would have a sunset provision five years after it passes. (People currently on Social Security or Medicare might be particularly interested in that one.)”
Miami Herald: “Scott chairs the National Republican Senatorial Committee, the party’s main campaign arm for Senate races. He set off a wave of concern among fellow Republicans last week when he released a plan to “rescue America,” which included an income tax increase for low- and middle-income earners among other potential controversial measures.”
The Washington Post: “At a Senate GOP leadership news conference Tuesday afternoon, McConnell seemed to take issue not only with Scott’s plan — which included a proposal for all Americans to pay some form of income tax — but also with the fact that Scott, a member of the leadership team, had released one purporting to represent the Republican Party.”
Business Insider: “Sen. Rick Scott said he hoped his ultra-conservative plan to “Rescue America” would stir criticism from the ‘woke” left’ Washington insiders as well as some on the right. He’s getting his wish and then some — including from Senate Minority Leader Mitch McConnell.”