10.22.2020 0

If Biden wins, it will take years to recover the jobs lost to Covid—just like last time he was there

It took the Obama-Biden economy more than three years to create a single new net job:

Former Vice President Joe Biden inherited a recession in 2009 when he and former President Barack Obama were elected in 2008, and if he wins this year, it will happen again. Although 14 million jobs have already been recovered from the state-led Covid pandemic economic lockdowns in the Bureau of Labor Statistics’ household survey — up to 25 million were lost when labor markets bottomed in April — there is still a long way to go to get back the other 11 million jobs. Here’s the problem. The last time Biden as in the White House with Obama, it would not be until May 2012 when the U.S. economy would begin creating jobs on a net basis — almost three-and-a-half years after they took office. Could Obama and Biden have acted quicker?


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