After February’s jobs report showed more Americans reconnecting to work, the Biden Administration must turn to addressing inflation, argues Republican Leader on the Ways and Means Trade Subcommittee Rep. Adrian Smith (R-NE) in an op-ed for The Hill.
- “Economists are warning of high recession risks, and — when you account for 7.5 percent annualized inflation — real wage growth is negative.”
- “Most critically, while labor force participation continues to trickle upward, the current rate of 62.3 percent is much closer to rates in April 2020 than to pre-pandemic workforce participation.”
- “The U.S. desperately needs workers to fill good-paying jobs to unclog our supply chain crisis. To put it simply: our focus should be on getting Americans back to work; not paying them to stay home. The good news for Americans currently on the sidelines of the economy is there are more good, high-paying jobs open than ever.”
- “There are nearly 1.5 job openings for every unemployed American, and we should be focused on policies to get people back to work — and ensure they are rewarded financially when they do.”
CLICK HERE to read the full op-ed.
- Experts are warning the U.S. is heading for a recession and on the verge of, or already in, a wage-price spiral.
- Economic optimism is down among Americans, too. Half of Americans believe President Biden’s economy is already in a recession or depression, and two thirds believe that prices will be higher than paychecks for the next three to five years.
- After President Biden discouraged work and caused inflation, leaving small business owners desperate for workers and forced to raise prices, President Biden is still obsessed with his $5 trillion Build Back Better agenda that would make things worse.