在美国2024年总统A theme that appears repeatedly in the election is related to the US economy -Biden Biden and Trump, who has a better US economy during the administration?
Kamala Harris, Vice President and Democratic Presidential Candidate, claimed: "From many indicators, the US economy is the most powerful in the world."
Donald Trump, a former President and Republican presidential candidate, claimed that he created "the greatest economy in American history" and the Bayon Harris government destroyed it.
Below, we have studied some key indicators to compare the economic performance of the two presidents during their term of office.
economic growth
The impact of the new crown epidemic makes it difficult.Although the salary level has been difficult to keep up with the pace of price increases in recent years, it can still calculate some significant economic achievements under the administration of the two presidents.
First of all, let's look at the economic growth of the United States through GDP (GDP). GDP data shows the value of all goods and services in the economy.
Many companies closed during the new crown epidemic, which caused the US GDP figures to drop sharply.
After the new crown epidemic, the US economy rebounded strongly under Trump, and recovered better than many other Western countries.
This situation continued when Biden was in power. Based on GDP, the United States had achieved the most powerful epidemic in the Seventh Kingdom Group after the GDP.
However, in the four years of Trump's administration, the United States has not been the greatest economy in American history as he likes.
Under the governance of the Bayeng government, so far, the average annual growth rate is 2.2%, which is almost the same as the previous figures.
In the past, there was a period of time, GDP growth was significantly higher than the average level under Trump and Biden, such as the 1970s.
Inflation
The speed of rising prices has always been a major issue for the US election campaign.
In the first two years of Biden's ruling, prices rose sharply and reached a peak of 9.1%in June 2022.
Trump once said that the United States has experienced "the worst inflation ever in history."
But this is not the case. The inflation rate in the United States was more than 9%last time in 1981. It has reached a higher level than this number in history.
At present, the inflation rate has dropped to about 3%, but it is still higher than the level when Trump stepped down.
This reached the peak of the Biden government's administration. Since then, the price has been stable. From July 2023 to July this year, the cost of grocery rose by 1.1%.
The recent trend is similar to many other Western countries experienced high inflation in 2021 and 2022. This is because the global supply chain issue caused by the new crown epidemic and the Ukrainian war has led to rising prices.
But some economists said that the US $ 1.9 trillion ($ 1.9 trillion) "US Rescue Plan" passed by Biden in 2021 is also a factor because the plan injects cash into the economy to further rise in prices.
Employment
Bayeng government pointed out many times that strong employment growth is a major achievement of the government.
According to non -agricultural employment data (about 80%of the labor force), before 2020, a large number of employment positions were lost due to the new crown epidemic, Trump increased nearly 6.7 million jobs in the first three years of the president.
Since the Biden government took office in January 2021, employment has increased by nearly 16 million.
Bynden claims that this is the fastest period of employment growth during the office of any president in American history. "
If people check the relevant available data since the record in 1939, this statement is correct.
As the United States comes out of the blockbuster of the new crown epidemic, the sharp rebound of economic activities.
Professor Mark Strain, an economist at Georgetown University, said: "If Trump won in 2020 (in the election), many jobs will return, but the 'US rescue plan' is inThe speed and strength of the labor market recovery have played an important role.
The expenditure plan passed by the Biden government in 2021 aims to help stimulate the economy after the epidemic.
Employment growth in July this year is weaker than expected, causing people to worry about the sudden decline in the US economy. As a result, the stock market has been hit, but it has become stable since then.
Biden and the Trump administration pointed out that during their ruling period, the unemployment rate was at a lower level.
Before the outbreak of the new crown epidemic, Trump announced the unemployment rate of 3.5%.
Like many parts of the world, the blockade of the new crown epidemic has led to a surge in the U.S. unemployment rate, but Trump's unemployment rate has fallen to about 7%after his departure.
During the administration of Biden, the unemployment rate continued to fall to a low of 3.4%in January 2023, the lowest level in more than 50 years, but then rose to 4.3%since then.
salary
As far as the wage level is concerned, Trump has indeed risen, but the level is similar to his former Barack Obama until the outbreak of the new crown epidemic.
During the new crown epidemic, workers' wages rose rapidly in early 2020, but the sudden rise in wages was more likely to be fired from workers with lower wages, which increased the average salary of people who are still employed.
During the governance of Biden, the average weekly income of Americans increased, but it was difficult to keep up with the price increase caused by high inflation.
After considering the inflation factors, the average weekly salary was lower than that of Biden.
Financial Market
The US stock market does not necessarily reflect the overall economy, but many Americans have investment, so their performance is very important.
The Dow Jones Index measures the performance of 30 large companies listed on the US Stock Exchange.
