Trump calls for end to ‘Bidenomics’ in spite of record job growth and low unemployment
While Wisconsin has added more than 188,000 jobs since President Joe Biden took office, the state experienced a net jobs loss during former President Donald Trump’s time in office.
At a May 1 campaign rally in Waukesha, Wisconsin, former President Donald Trump attacked President Joe Biden’s economic agenda, ignoring recent economic improvements for the state and country.
“On day one of my new administration we’re going to throw out Bidenomics and we’re going to replace it with MAGAnomics. And upon taking office, I will impose an immediate moratorium on all new spending grants and giveaways under the Joe Biden mammoth socialist bills like the so-called Inflation Reduction Act. We’re going to save all that money. It’s not helping you at all,” Trump said. (40:57)
According to the Bureau of Labor Statistics, Wisconsin has added more than 188,000 jobs since January 2021, when Biden was sworn into office. The number of people employed in the state was over 3 million as of March and hit a record high of 3.1 million in February, according to the Wisconsin Department of Workforce Development.
Economists at the department have projected job growth to continue in Wisconsin in the next few years.
“Employment is now higher than it was before COVID-19, and the projections indicate that this growth will continue across all industries,” DWD Secretary Amy Pechacek said in April.
During Trump’s time in office from January 2017 to January 2021, the state experienced a net job loss. The same is true for the nation at large, with a net loss of nearly 3 million jobs. Trump inherited economic growth from former President Barack Obama, but the economy had already begun to slow before the COVID-19 pandemic emerged in 2020.
The Wisconsin unemployment rate was 4.7% when Trump left office. As of March, the rate had dropped to 3%.
When Biden took office, he signed the American Rescue Plan, an economic stimulus action designed to spur job growth. Wisconsin received $2.4 billion from the plan and spent it on initiatives like Gov. Tony Evers’ Badger Bounceback program, which distributed grants to small businesses.
The Rescue Plan was also used to provide financial support to child care providers. The Department of Health and Human Services has estimated that up to 326,700 children in Wisconsin were assisted through these funds.
Biden also signed the Infrastructure Investment and Jobs Act, which has funded infrastructure projects nationwide, and the CHIPS and Science Act, designed to attract domestic semiconductor jobs.
According to the White House, since Biden took office at least $6.9 billion in investments have been announced for Wisconsin in clean energy, semiconductor manufacturing, and infrastructure. Additionally, private businesses have announced $2 billion in commitments to projects in the state.
