Biden Is Inheriting a Resilient if Slower Economic Recovery
While America tuned in to the battle for the presidency last week, one of the bellwethers for the economy signaled the winner will inherit an ongoing recovery.
The U.S. added 638,000 jobs in October, the government said Friday. The unemployment rate sank to a newintrapandemic low of 6.9%, or less than half its peak during the early days of the coronavirus crisis of 14.7%.
The better-than-expected improvement in the labor market is good news for former Vice President Joe Biden, a Democrat who will be the next occupant of the White House. Biden won a close election over President Donald Trump and is set to take office Jan. 20.