DURHAM, N.C. (WNCN) — President Joe Biden will visit Durham on Tuesday to discuss what his administration is calling “the strongest job growth in history,” and a “manufacturing boom that is strengthening supply chains” and “national security.”
Biden’s visit to Wolfspeed, a semiconductor manufacturer, is part of his “Investing in America Tour.”
The White House outlined what the President plans to talk about in an advisory on Sunday.
“The President will visit Wolfspeed, a semiconductor manufacturer, to discuss how his Investing in America agenda has led to the strongest job growth in history,” the advisory said. “Stronger infrastructure, over $300 billion in major private sector investments nationwide…and a Made in America manufacturing boom that is strengthening supply chains and national security.”
However, CBS 17 recently reported that the U.S. inflation rate is at its highest in 40 years.
“Inflation soared over the past year at its highest rate in four decades, hammering American consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy,” CBS 17 reported Feb. 10 via the Associated Press.
The Labor Department said on Feb. 10 that consumer prices jumped 7.5% in the month alone compared with a year earlier, the steepest year-over-year increase since Feb. 1982.
“Shortages of supplies and workers, heavy doses of federal aid, ultra-low interest rates and robust consumer spending combined to send inflation leaping in the past year. And there are few signs that it will slow significantly anytime soon,” the Associated Press said. “Wages are rising at the fastest pace in at least 20 years.”
Additionally, on Feb. 3, CBS 17’s Michael Hyland reported that North Carolina is struggling to find people to fill important jobs, despite people being ready to go back to work.
Hyland reported the United States added half a million jobs in the last month (as of Feb. 3), bringing the unemployment rate down, but just because the job position has been added, doesn’t mean it is filled. For example, Hyland said, teacher vacancies have shot up 60%.