As stocks continued to fall during the early 1930s, businesses failed and unemployment rose dramatically. By 1932, one of every four workers was unemployed. Banks failed and life savings were lost, leaving many Americans destitute. With no job and no savings, thousands of Americans lost their homes.
In 2023, the pace of new job growth slowed considerably, but continues to demonstrate stability.
For the 11 months ending in November, the monthly average for new job growth dropped to 232,800.
I thought that the well-being of the economy was based on the job market and how well-off the general population is. Not being an expert in economics, I have what I consider logical questions.
How do President Joe Biden’s policies factor into the high number of job openings and the record highs in the stock market? How does “Bidenomics” equate with the repeated “record” numbers of travelers overwhelming airline terminals during holidays? Are people maxing out their credit cards before Armageddon, or am I one of the few who refuses to be brainwashed?
As a retired and financially comfortable fisherman, I don’t understand why so many rich men holler “the country’s going to hell” and “make America great again” or why Joe Biden’s approval ratings have dropped to 33%. Is it because of his environmental concerns or his much-needed bipartisan investment in infrastructure?
— Floyd Peterson
Hoonah
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