According to the USA Today website reported on October 6, at a time when a poll showed that nearly 70 percent of Americans believe that the overall economic condition of the country is worsening, US President Joe Biden blamed the media for the continued anxiety of the people about the economy.
According to data released by the US Department of Labor on the 6th, the US unemployment rate was unchanged at 3.8% in September this year. The non-farm sector added 336,000 jobs, above the 12-month average of 267,000. After the figures were released, Biden called them "good news today." Speaking at the White House, he said: "The share of Americans of working age is at its highest in 20 years. This is no accident. This is Bidenomics."
U.S. President Joe Biden Photo: Associated Press
However, public opinion polls show that Americans remain concerned about the state of the country's economy, largely because of stubborn inflation. While inflation in the US has fallen significantly compared to a year ago, it is still higher than pre-COVID-19 levels.
A September poll by USA Today and Suffolk University found that nearly 70 percent of Americans think the country's economic situation is getting worse, while only 22 percent think it is getting better. Eighty-four percent of Americans say their cost of living is rising, and nearly half (49 percent) cite rising food and grocery prices as the main reason.
Asked by reporters at the White House on October 6 why many Americans still feel bad about the economy, Biden blamed negative media coverage for the situation. "You're all not the happiest people in the world - that's what you're reporting. I'm serious. When you report something negative, you get more support. I'm not saying it's personal. It's just the nature of things."
Biden added, "When you turn on the TV, it's not so much about a boy saving a dog from going swimming in a lake, it's about someone pushing this dog into a lake."
Previously on September 18, the US Forbes News published that according to the model developed by the US engineer Fulba and the CEO of the Recession Warning network Van Warren, if the US unemployment rate rises to 4.0% or higher in September, the possibility of an economic recession at the end of October is 73%. The unemployment rate is a lagging indicator of the economy, but it signals the beginning and end of a recession, analysts said.