WATCH: Biden says he's leaving economy 'stronger than ever' for Americans as his term nears end
www.pbs.org
President Joe Biden lauded his administration’s record on the economy after the labor department reported Friday a surge in job growth and decline in unemployment last month.

Summary

President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.

December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.

However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.

Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.

  • jagged_circle@feddit.nlEnglish
    24·
    3 days ago

    Yeah, thats not an alternative to GDP then.

    Like, if everyone in the country earns $1 per day and the cost of living is $2 per day, the gini is good but the economy is still shit

    We need some unit that actually measures if an economy is doing well

    • SamiAEnglish
      4·
      3 days ago

      I imagine this measurement is probably adjusted for PPP (purchase power parity). Going from comparing the GDP per capita to a PPP and Gini adjusted GDP per capita (like what that index likely does) should be what you’re getting at. Otherwise, there’s HDI (human development index) also mentioned in the wiki that goes beyond monetary value.