NBC’s Chuck Todd said Sunday morning the American people are “not feeling” Bidenomics as President Joe Biden’s approval rating sinks on economic issues.
Biden’s approval rating hit 41% in late June, nearly the lowest during his presidency, according to a Reuters/Ipsos poll. The poll had a +/- 3 percentage point margin of error. Respondents cited the economy and high inflation rates as their top concern. Todd touched on the sentiment during a segment on Sunday’s “Meet the Press.”
“President Biden is hoping to claim credit for what is an improving economy and he’s ramping up a messaging tour focused on the economic agenda that he is embracing and calling ‘Bidenomics,'” Todd said.
“Inflation has dropped for 11 straight months for a high of 9.1% in June of last year to 4% this May. Unemployment stands at 3.6%. That is near a 50-year low and 13 million jobs have been added since Biden took office. We completely recovered from the pandemic drop, but the American public is not feeling it. Just 34% of Americans approve of Biden’s handling of the economy and a recent AP poll that released in the end of June and only 20% of voters believe the nation is on the right track, though voters have not felt good for over a decade and Biden is trying to persuade voters that the economy is better than they think it is.” (RELATED: Republican CNN Contributor Says Biden Should Be Easy To Beat Amid Sinking Poll Numbers)
Despite Biden’s attempt to rally support around his economic policies, data from the Bureau of Labor Statistics (BLS) shows a large increase in the number of U.S. workers who took part-time positions for economic reasons. Data shows 452,000 additional part-time jobs were added in June, indicating more Americans are unable to find full-time employment or that businesses are unable to give workers enough hours to qualify as full-time.
“This tells us that Bidenomics is strangling the labor market. People are increasingly trying to shift from part-time work to full-time work, but businesses are doing exactly the opposite,” E.J. Antoni, a research fellow in the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation in reference to the 452,000 additional part-time jobs in June. “The reduction in full-time job openings is very common in the months preceding a recession.”