Joe Biden is more responsible for high inflation than for abundant jobs

The way Joe Biden tells it, the only part of his that really matters is jobs. America’s roaring labour market beat expectations again in April. The unemployment rate is lower than in any year since 1969. The share of 15- to 64-year-olds in employment has surpassed its pre-pandemic peak, which was itself the highest seen since 2007. Mr Biden likes to tell people that his presidency, which began in the midst of a rapid recovery from covid lockdowns, has coincided with more monthly job creation, on average, than any other in history. Provided America avoids a , and the associated halt to federal spending and probable lay-offs, the booming labour market looks like a ticket to re-election in 2024.Unfortunately for , however, another part of his record tells a less flattering story. High inflation continues to imperil the economy and vex voters. And placing his record in a global context reveals that he is more responsible for surging prices than he is for abundant jobs.