Recently Kevin Price, Host of the nationally syndicated Price of Business, visited with economist, Alex Brill.
Key Points:
- Trump’s Critique:
- Trump argues that jobs gained under Biden are just a recovery of those lost during the COVID-19 pandemic.
- He believes reclaiming lost jobs is not equivalent to creating new employment opportunities.
- This defies historic economic orthodoxy.
- Contrast with Traditional Policy Views:
- Policy makers traditionally view any job creation positively, whether recovering lost jobs or creating new ones.
- The focus has been on overall employment numbers without distinguishing between recovered and new jobs. In other words, jobs are jobs.
- Trump’s perspective suggests that true economic progress is only reflected in new job creation. That has never been a criteria or framework in economic history.
Trump’s use of “bounce back jobs” introduces a critical lens, and arguably an inaccurate one, challenging long-held views on employment and highlighting the importance of new job creation in measuring economic success.
