USA: Biden brings his economic speech to Pennsylvania on Labor Day

FILE - On September 5, 2022, President Joe Biden makes a speech at a United Steelworkers of America Local 2227 Labor Day celebration in West Mifflin, Pennsylvania, United States. Eliza Frantz/REUTERS

Labor Day or Monday is observed in the US on this day. President Joe Biden defines himself as a pro-union leader, and the White House has recently pushed to promote his economic principles as "Bidenomics."

USA: REHOBOTH BEACH, DELAWARE 

President Joe Biden will visit Philadelphia on Monday to celebrate U.S. Labor Day in Pennsylvania, a key swing state in the 2020 presidential election where the White House hopes its emphasis on worker-friendly policies will help Biden win again.

Democratic presidential candidate Joe Biden will speak at an AFL-CIO union group event in Pennsylvania after spending Saturday in Florida assessing the effects of Hurricane Idalia before heading to Delaware, where he has spent the majority of his life. Pennsylvania was a key state in Biden's victory over former President Donald Trump in the 2020 election.

The White House has recently tried to promote Biden's economic ideas under the name "Bidenomics" to a public that is worried about the economy, despite the decline in inflation and the low unemployment rates. Biden describes himself as a pro-union president.

Republicans argue that Democratic policies contributed to price increases that made rent, groceries, and petrol more expensive for Americans during the Biden administration.

Since March 2022, the Federal Reserve has increased interest rates by 5.25 percentage points, and the 30-year mortgage rate is now over 7%.

However, the favored inflation measure of the Federal Reserve has declined from its peak of 7% last summer to 3.3%. Jerome Powell, the chairman of the Federal Reserve, stated late last month that while the decline was a "positive development," inflation "remains too high" and the Fed may need to hike interest rates further.

According to Labor Department figures issued last week, the number of jobs in the United States increased in August, but the unemployment rate increased to 3.8% and pay growth slowed. In response to rate increases by the central bank, the labor market is stalling.

The White House points out that since Biden took office in January 2021, inflation-adjusted wages have climbed by 3.5%, which has benefited lower-wage employees, and that the unemployment rate is almost at its lowest point in 50 years.

Before Labor Day, Biden outlined his administration's plan to extend overtime pay to approximately 3.6 million Americans in an opinion piece that appeared in the Milwaukee Journal-Sentinel. He also complimented unions for being beneficial to the economy. economy.

Every American who is ready to put in the necessary effort should be able to find employment, support their families with a respectable income, and stay connected to their hometowns. Because of this, Bidenomics builds on what has historically been greatest for our nation: investing in American workers, the real historical heroes.

According to a Reuters/Ipsos poll conducted last month, Americans' top concerns continue to be the economy, unemployment, and employment. 60% of Americans, including one in three Democrats, said they disapproved of how Biden handled inflation, according to the survey.

Who will be in charge of the country after next year will be decided in part by Pennsylvania and other electoral battleground states that alternately supported Democrats and Republicans in the presidential election.