democratic presidential candidate Joe biden blasted friday President Trumphandling the coronavirus pandemic and the economic downturn that followed, accusing the president of botching the country’s recovery.
“The economic inequalities that started before the recession have only worsened under this failed presidency,” Biden said. “When the crisis started, we were all hoping that a few months of shutdown would be followed by a quick economic recovery. No one expected to lose their jobs for good or see small businesses shut down en masse.”
Biden’s remarks in Wilmington, Del., Came the same day the Labor Department released its August jobs report, revealing that U.S. employers created 1.4 million jobs in the month last, bringing unemployment down to 8.4%.
Trump touted the better-than-expected drop in the unemployment rate – the first time it has fallen below 10% since March – as proof that the pandemic-ravaged economy is improving after closures earlier this year which sparked a wave of job losses and business closures.
“Wow, much better than expected! He tweeted. “Broke the level 10% faster and deeper than expected.”
Yet although that figure marks the fourth consecutive month of job gains of over one million, it is well below the 7.5 million jobs added in May and June before hiring cooled in July. , with growth of just 1.9 million jobs. The economy has regained about half of the 22 million jobs lost during the pandemic, data shows.
There are still 11.5 million more Americans out of work than in February, when unemployment in the country was at its lowest level in half a century at 3.5%.
“Donald Trump is perhaps the only president in modern history to leave office with fewer jobs than when he took office,” Biden said.
The former vice president suggested that Trump’s mismanagement of the economy exacerbated income inequality in the country and contributed to a so-called “k-shaped“Recovery – in which wealthy Americans experience a shorter recession and a faster rebound, while lower and middle class Americans still live on the brink.
“We all know it couldn’t have been that bad,” Biden said. “It couldn’t be that bad at first, if the president was just doing his job.”