GOP lawmaker admits latest economic numbers include 'good news'
On CNN Wednesday, following the record-shattering new jobs reports, Rep. Don Bacon (R-NE), a frequent critic of the Biden administration, admitted that many aspects of the economy are good during an appearance with anchor Jim Sciutto.
"First, I want to start with the economic numbers," said Sciutto. "There is a disconnect here. You see them, these are the lowest unemployment claims since 1969, unemployment overall below 5 percent. Economic growth this quarter is forecast to be very strong. Is the economy as bad as Republicans say it is? Because when you look at a lot of these numbers, beyond inflation — which I know hurts — you look at the economic indicators, very strong economy."
"First of all, I'm glad unemployment is so low," said Bacon. "That's great for our country. Great for America, and Nebraska it is 1.9 percent, the lowest of all 50 states. Here is the contradictions, inflation, which is 6.25 percent. Highest of 30 years. Here is the other area particularly bad in Nebraska. Our workforce participation rate is at 61 percent. That is really low, and should be about 66 or 67 percent, which means about 50 percent of the companies, small businesses want to hire people, they can't find anyone."
Experts have said a major contributor driving people out of the workforce is the high cost of child care, which has forced women to go back to the home to be caregivers. Biden's proposed Build Back Better Act includes universal preschool and other family investments, although Republicans, Bacon included, have come out in sharp opposition to this.
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