Kamala Harris' economic pitch just got a lot more complicated

The Biden-Harris administration is facing challenges as cracks form in the labor market, which could impact their economic pitch. Although inflation is under control, the job market is starting to weaken. In the past month, the economy gained 114,000 jobs, and unemployment rose to 4.3%. This abrupt shift has economists concerned about the softening labor market. The slowdown, coupled with disappointing tech earnings, caused a negative reaction in the stock market. The labor market had been strong, but recent indicators show cracks with rising jobless claims, higher unemployment, and fewer job changes. The unemployment rate has risen by 0.8 points over the past two years, creating an additional challenge for Vice President Kamala Harris. With inflation reducing, Republicans are seizing the opportunity to criticize President Joe Biden’s economic policies, arguing that the economy is in shambles. The Biden administration had previously touted positive labor market news, but polls showed that inflation fatigue overshadowed the positive aspects. While the labor market is still strong, the complexities make it a difficult message to resonate with voters.