With a jobless rate of 3.7 percent and sturdy growth, the U.S. economy is doing as well as one could have hoped in the wake of the pandemic.
Inflation has also fallen sharply to an annual rate of 3 percent in June, down from a 40-year high of 9.1 percent during the same month last year.
Even so, the toll of rising prices has kept many voters sour on the economy. That prompted Biden and his team to hit the road and tout the benefits of “Bidenomics,” his plan for boosting the economy through investments in technology and fighting corporate greed.
The CNBC All-America Economic Survey found that 37 percent of Americans approve of the president’s handling of the economy, while 58 percent disapprove.
This represents a slight improvement over April, when just 34 percent said they approved of Biden’s job on the economy and 62 percent said they disapproved.
The Hill’s Julia Shapero has more here.
