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Unemployment is the state of being available for work and seeking employment but not getting the opportunity for one. The unemployment rate is calculated as a percentage of the unemployed people in the workforce. It causes negative consequences to affected people, such as financial constraints, poor living standards and health conditions, interfering with the quality of life of the affected individuals. Consequently, this widens the gap between the poor and the rich, negatively impacting the country’s socio-economic factors. However, Barnes (2022) indicates that the national unemployment rate in all fifty states and districts decreased by 1.9% from the previous year in July 2021 to 3.5% in July 2022. This statistic shows an improvement since the unemployment rate is lower, increasing the number of jobs available for Americans. Thus, it implies that Joe Biden’s politics on unemployment, the laws conducted, and the changes brought in the last few years improved the unemployment rate in the country.
The unemployment rate has decreased since Joe Bidden took office in January 2021. His administration is now focused on increasing employment opportunities by creating more jobs. As such, Joe Biden’s politics on unemployment aims to reduce the unemployment rate and increase the amount of income available in American homes, improving their living standards and the economy. When Biden became the US president, the Covid-19 pandemic was out of control, and the recovery had stalled; however, in less than one and a half years, his administration’s economic plans boosted the nation’s recovery leading to a decline in the unemployment rate (Biden, 2022). Furthermore, the economic plans made by Biden’s administration led to the strengthening of the job market, which increased the jobs available to the American people. Thus, the American Rescue plan and the vaccination program significantly addressed the unemployment challenges within the nation. Therefore, Joe Biden’s politics on unemployment successfully reduced the unemployment rates within the United States.
The Laws Conducted
To facilitate his economic plans, Joe Biden enacted laws to support the policy implementation process. Weller (2022) states that in March 2021, congress passed the Biden administration’s American Rescue Plan Act (ARPA), which resulted in 7.2 million jobs by March 2022. The ARPA paid off by increasing the number of jobs available to the American people. Weller (2022) further states that Biden’s fiscal policies directly accelerated job growth by the ARPA, resulting in more than 4 million additional jobs since the enactment of the law. The creation of extra jobs made more people rely on their weekly paychecks while fewer people depended on government support since unemployment claims were reduced by over 80%. Therefore, the American Rescue Plan Act contributed to an improved employment situation within the US.
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The Changes Made in the Last Few Years
The significant changes that Joe Biden’s politics on unemployment had in the last few years are increased employment opportunities and economic growth. The White House (2022) indicates that the President and Vice President made history by growing the economy, building the judiciary and government representing America, and addressing the climate crisis. Moreover, despite the challenging economic times resulting from the Covid-19 pandemic, more jobs were created, reducing unemployment and revamping the economy. Specifically, more than ten million jobs have been created and increased participation rate of the labor force. Other changes include the rise in working-age women, increased wages and salaries, and increased manufacturing orders, easing the cost of supply chain items. Besides, gas prices decreased, and the country attracted many investors, leading to the recovery of manufacturing jobs (The White House, 2022). These facts indicate the nation’s progress since the time Joe Biden took power in 2021. Therefore, Joe Biden’s politics on unemployment brought changes to the country by reducing the unemployment rate by revamping the manufacturing industry and facilitating the rise of the employment rate while offering better wages, hence, improving the living standards.
Conclusion
The state of being available for and seeking work but being unable to find gainful employment is known as unemployment. Therefore, the unemployment rate is the percentage of unemployed people in the workforce. Recent reports indicate that the unemployment rate has declined to below four percent in the United States. It is due to Joe Biden’s Politics on Unemployment, which focused on getting the American people back to work and normalizing the supply chain prices. In addition, by enacting the American Rescue Plan Act (ARPA), Joe Biden’s administration facilitated revamping the manufacturing and service industries, increasing the number of jobs available to the American people. Consequently, more people were employed, reducing the unemployment rates, and increasing the labor force participation rate, including the working-age women, while increasing wages and manufacturing orders. These changes contributed to the improvement of the living standards of the American people.
- Barnes, Z. (2022, September 16). State Unemployment Rates | July 2022. NCSL. https://www.ncsl.org/research/labor-and-employment/state-unemployment-update.aspx
- Biden, J. R. (2022, May 30). Joe Biden: My Plan for Fighting Inflation. The Wall Street Journal. https://www.wsj.com/articles/my-plan-for-fighting-inflation-joe-biden-gas-prices-economy-unemployment-jobs-covid-11653940654
- The White House. (2022, September 2). Remarks by President Biden on American Rescue Plan Investments. https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/09/02/remarks-by-president-biden-on-american-rescue-plan-investments/
- Weller, C. E. (2022, April 28). Biden’s Jobs Boom: How Policies Boosted the Labor Market Recovery in 2021. Center for American Progress. https://www.americanprogress.org/article/bidens-jobs-boom-how-policies-boosted-the-labor-market-recovery-in-2021/