It is undeniably true that we are still millions of jobs below the pre-pandemic number. The right considers that evidence that the Biden economic plan is failing. Do they have a case?
Consider the reasons for the continuing deficit. By all accounts, they are:
- Millions of relatively elderly workers could afford to retire during the worst of the pandemic, and decided to do so;
- Some workers, particularly in high risk fields, still worry about catching the virus;
- Some workers are continuing to stay home to take care of their children, given the problems finding affordable day care; and
- Some workers are taking advantage of the condition of the job market and are holding out for better positions with higher wages.
The second and third reasons are genuine obstacles to economic growth; the Biden plan is designed to address them, over GOP resistance. #1 and #4, however, represent people rejecting jobs in what they reasonably believe is their self-interest. Would we really celebrate if the fourth group found that their opportunities had dried up, and that they were compelled to take any low-paying job that came available? Would that really be in the public interest?
If you’re a Republican, you probably think the answer to those two questions is yes, because you believe in low wages, high profits, and the dollar store economy. For obvious reasons, however, you are unlikely to admit that in public.