Former President Donald Trump recently claimed that the job growth during President Joe Biden’s administration is primarily attributed to the bounceback gains following the pandemic lockdowns that severely impacted the US economy. The context of this claim stems from the significant job losses experienced during the initial months of the pandemic in 2020, where approximately 22 million jobs were lost under the Trump administration in March and April.
However, the US economy began its recovery under Trump, with over 12 million jobs added from May 2020 through December 2020. This positive trend continued after Biden assumed office, leading to the US surpassing its pre-pandemic employment levels in June 2022. Subsequently, the US witnessed the addition of nearly 6.2 million more jobs, marking one of the lengthiest periods of employment expansion on record.
Contrary to the notion of all job gains being bounceback positions, the employment landscape underwent significant transformations due to the pandemic. Factors such as early retirements, unfortunate deaths, long Covid effects, and caregiving responsibilities contributed to a portion of the labor force not returning to their previous roles.
Moreover, shifts in consumer spending behaviors and health-and-safety concerns prevented public-facing industries from fully reopening or rehiring immediately. Consequently, some workers transitioned to different sectors or seized the opportunity to establish their own businesses.
As the pandemic situation improved and in-person activities resumed, industries that were previously constrained by worker shortages faced challenges in meeting their staffing needs. This period of recovery has been characterized by what experts term the Great Reshuffling, where individuals opted to switch jobs or pursue new career paths for various reasons.
