The recession that many economists predicted hasn’t happened. On the contrary the economy is improving and growing nicely. America recently received good news on the economic front. The Bureau of Labor Statistics came out with a blockbuster jobs report. For the month of January the economy added 353,000 new non-farm jobs far surpassing the consensus survey of 185,000. Since President Biden has been in office, 14.8 million jobs have been created, a gain of 5.4 million more jobs than before the Covid-19 pandemic. For January the unemployment rate held steady at 3.7%, a rate that has been under 4% for the last full two years. The economy is growing at a respectable 3.3% clip. The Dept of Labor report also revealed on an annual basis, wages jumped by 4.5% above market expectations of 4.1%.

Mark Zandi, chief economist of Moody’s Analytics, asserted the economy is about as good as it gets. He added the only blemish is stubborn inflation whose sting is still being felt at the grocery stores; a sting however that is generally becoming less painful. Presently the polls show Americans are dissatisfied with President Biden’s handling of the economy. In response to the polls Mark Zandi thinks as time goes on, Biden’s case will strengthen and people’s perceptions will align more with his message that the economy is in good hands under his administration.

The economy has been improving for some time now. I believe the repeated good news of our economic landscape capped by a robust jobs report will eventually turn the tide making the economy a strength for President Biden by election time this coming November.