Economy

Just 34% approve of Biden’s handling of the economy as he hits the road to talk up ‘Bidenomics’

Published

1 year ago

June 28, 2023

President Joe Biden walks to board Air Force One, escorted by Air Force Col. Paul Pawluk, Wednesday, June 28, 2023, at Andrews Air Force Base, Md. The President is traveling to Chicago to deliver remarks on the economy. Photo by Evan Vucci /THE ASSOCIATED PRESS

WASHINGTON (AP) — President Joe Biden had a tough sell Wednesday: Convincing voters the U.S. economy is flourishing.

With the president set to showcase “Bidenomics” in a speech in Chicago, a new poll finds that only one in three U.S. adults approve of his economic leadership. That 34% figure is even lower than his overall approval rating of 41%, according to the survey from The Associated Press-NORC Center for Public Affairs Research.

Biden’s approval figures have barely moved for the past year and a half, a source of concern for a president seeking reelection on his ability to govern and make a positive difference for the middle class and the U.S. economy. He wants voters to connect new infrastructure projects, factory construction and the rise of electric vehicles and renewable energy to the initiatives he signed into law during the first two years of his administration.

As he was departing for Chicago, Biden said he believes the U.S. will avoid the recession that many economic analysts have been expecting.

“I’ve been hearing every month there’s going to be a recession next month,” he said. “I don’t think we will.”

Indeed, the economy has steadily improved over the past year. Unemployment stands near historic lows at 3.7%. The inflation that has plagued Biden’s presidency has fallen to 4% from a peak of 9.1% last June. But prices are still rising significantly faster than the Federal Reserve’s target of 2%, a worry for voters and a line of attack for Republican lawmakers and other presidential candidates.

And smoke from Canadian wildfires, evident in Chicago on Wednesday, has added a new cloud for workers and shoppers in the U.S. The White House said it’s monitoring the air quality in Chicago but would not cancel the president’s scheduled events, which include a campaign reception in addition to the speech on the economy.

The new poll identifies a weakness within Biden’s own base. Many of the Democrats he needs to marshal in 2024 are comparatively unenthusiastic about his economic record. Seventy-two percent within his party say they approve of his handling of his job overall, but just 60% say they approve of his handling of the economy.

By comparison, during the depths of the pandemic as unemployment spiked, Republicans approved by overwhelming numbers of then-President Donald Trump’s economic leadership. Only about 1 in 10 Republicans now approve of Biden overall or on the economy, a testament to the polarization that defines modern U.S. politics.

Sarah Husted, 40, said she voted in 2020 for Biden, but “I wasn’t thrilled with either candidate.”

Living in Lincoln, Nebraska, Husted said that she feels as though inflation is getting worse, especially with regard to utilities and housing. But she largely believes the economic turmoil still reflects the disruptions caused by the pandemic.

“I don’t think that President Biden is helping the situation as much as he could, but I don’t think it’s all his fault,” she said.

That take was shared by other poll respondents interviewed by AP who voted for Biden in 2020. They generally saw him as a president grappling with partisan divisions, global competition and the aftermath of the coronavirus pandemic.

“He’s doing the best he can, but he can’t do anything without Congress,” said Alice Banner, 86, a retired nurse from Baltimore County, Maryland.

Ben Will, 34, noted the solid job growth during Biden’s presidency and said the infrastructure spending that Biden signed into law would help with growth.

“He’s doing a fantastic job with the cards that were dealt to him,” said Will, a marketing and advertising director from Reading, Pennsylvania.

Overall, 30% of U.S. adults say they think the national economy is good, up slightly from the 25% who said that last month, when the president and congressional Republicans were in the midst of negotiations over raising the nation’s debt limit and a historic government default was a risk. No more than about a third have called the economy good since 2021.

Overall, Democrats remain more likely to call the economy good than Republicans are, 47% to 13%.

White House aides believe that Biden’s speech on Wednesday can generate greater awareness of his policies and increase Democratic voters’ appreciation of the economy. While the president’s allies acknowledge that many Americans still hold dim views of the economy, they note that the actual economic data was far worse last November, when Democrats mounted a stronger-than-expected showing in the midterm elections.

Biden aides say they are encouraged by data showing Americans’ views can be changed by a consistent message reinforced on multiple fronts, which is what the president and his Cabinet are setting out to do by touring the U.S. over the next three weeks. Their hope is that repetition of Biden’s accomplishments, coupled with a contrast to GOP proposals to undo those initiatives, will stick with voters for 2024.

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The poll of 1,220 adults was conducted June 22-26 using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 3.9 percentage points.

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AP White House Correspondent Zeke Miller contributed to this report.

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Economy

Minimum wage to hire higher-paid temporary foreign workers set to increase

Published

2 days ago

October 21, 2024

Anne Joseph

OTTAWA – The federal government is expected to boost the minimum hourly wage that must be paid to temporary foreign workers in the high-wage stream as a way to encourage employers to hire more Canadian staff.

Under the current program’s high-wage labour market impact assessment (LMIA) stream, an employer must pay at least the median income in their province to qualify for a permit. A government official, who The Canadian Press is not naming because they are not authorized to speak publicly about the change, said Employment Minister Randy Boissonnault will announce Tuesday that the threshold will increase to 20 per cent above the provincial median hourly wage.

The change is scheduled to come into force on Nov. 8.

As with previous changes to the Temporary Foreign Worker program, the government’s goal is to encourage employers to hire more Canadian workers. The Liberal government has faced criticism for increasing the number of temporary residents allowed into Canada, which many have linked to housing shortages and a higher cost of living.

The program has also come under fire for allegations of mistreatment of workers.

A LMIA is required for an employer to hire a temporary foreign worker, and is used to demonstrate there aren’t enough Canadian workers to fill the positions they are filling.

In Ontario, the median hourly wage is $28.39 for the high-wage bracket, so once the change takes effect an employer will need to pay at least $34.07 per hour.

The government official estimates this change will affect up to 34,000 workers under the LMIA high-wage stream. Existing work permits will not be affected, but the official said the planned change will affect their renewals.

According to public data from Immigration, Refugees and Citizenship Canada, 183,820 temporary foreign worker permits became effective in 2023. That was up from 98,025 in 2019 — an 88 per cent increase.

The upcoming change is the latest in a series of moves to tighten eligibility rules in order to limit temporary residents, including international students and foreign workers. Those changes include imposing caps on the percentage of low-wage foreign workers in some sectors and ending permits in metropolitan areas with high unemployment rates.

Temporary foreign workers in the agriculture sector are not affected by past rule changes.

This report by The Canadian Press was first published Oct. 21, 2024.

— With files from Nojoud Al Mallees

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Economy

PBO projects deficit exceeded Liberals’ $40B pledge, economy to rebound in 2025

Published

6 days ago

October 17, 2024

Anne Joseph

OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.

However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.

The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.

Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.

The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.

The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.

This report by The Canadian Press was first published Oct. 17, 2024.

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Economy

Statistics Canada says levels of food insecurity rose in 2022

Published

1 week ago

October 16, 2024

Anne Joseph

OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.

In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.

The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.

Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.

In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.

It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.

This report by The Canadian Press was first published Oct 16, 2024.

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