President Joe Biden is hopeful that the U.S. economy can achieve a soft landing, avoiding a recession as the 2024 election nears. The April jobs report issued Friday was encouraging with its 3.4% unemployment rate and 253,000 jobs gained – both of which are indicators of strength in the job market despite some Americans’ downbeat feelings about Biden’s economic leadership due to high inflation rates.
This has challenged long-held economic orthodoxy that efforts to beat back inflation by the Federal Reserve would result in increased unemployment and an eventual recession for our country; however, this recent report suggests otherwise and gives hope for continued success under President Biden’s administration going forward into 2024 and beyond!
With such strong numbers reported from April’s job market survey, we can be optimistic that things will continue on an upward trajectory over the next few years leading up to Election Day 2024 – potentially allowing us all to enjoy a soft landing economically speaking!
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