The Welfare-Industrial Complex
1st January 2024
The Biden administration brags about the number of jobs being created, but given our rather slack economy it is reasonable to wonder what kind of jobs they are. At the Wall Street Journal, Allysia Finley has a sobering answer:
Drill into the nation’s 3.7% unemployment rate, and you’ll find a growing welfare-industrial complex beneath the seemingly strong labor market. Government, social assistance and healthcare account for 56% of the 2.8 million net new jobs over the past year, and for nearly all gains in blue states such as New York and Illinois.