Category: Catherine Rampell

Behind the April jobs report: Is there a shortage of jobs or a shortage of workers?

The size of the jobs deficit — the difference between how many jobs there are today vs. pre-pandemic — remains quite large, with employment in April still 8.2 million jobs, or 5.4 percent, below the peak from February 2020. If April’s hiring pace were to continue indefinitely, it would take 2½ more years before we regained all the jobs we had pre-covid (and we actually want more jobs than that, given population growth).

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Biden upends the Republican ‘unity’ test

Biden has proved a challenging adversary for Republicans to vilify. He’s a generally congenial and empathetic politician, who has a compelling personal story rife with loss. He has working-class bona fides and has resisted conscription into Republican-framed culture wars. Republicans have tried caricaturing him as old and ineffectual — yet also somehow unusually effective at transforming the country into a socialist hellscape.

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Republicans make Biden an infrastructure offer he has to refuse

But in reality, Republicans are offering nothing remotely close to a serious or reasonable counter-bid, and they know it. This is obvious from their use of an accounting gimmick that inflates their “compromise” and makes it look more similar in size to Biden’s plan. Once you un-cook the books and use apples-to-apples budgeting rules to compare the proposals, you’ll realize that what the GOP has offered is mere pennies on the dollar of what Biden has requested.

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