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HISTORIC JOB CREATION CONTINUES THANKS TO PRESIDENT BIDEN’S POLICIES AS ECONOMY TRANSITIONS TO STABLE AND STEADY GROWTH

FOR IMMEDIATE RELEASE: June 3, 2022
PRESS CONTACT: [email protected]

HISTORIC JOB CREATION CONTINUES THANKS TO PRESIDENT BIDEN’S POLICIES AS ECONOMY TRANSITIONS TO STABLE AND STEADY GROWTH

Reuters: “U.S. job growth beats expectations; unemployment rate steady at 3.6%”

Washington Post: “The U.S. economy added 390,000 jobs in May, a strong showing after a year of unprecedented growth.”

WASHINGTON, D.C. — Yesterday, we learned that the number of Americans receiving unemployment benefits has reached historic lows, and today’s jobs report underscores the strong growth under the Biden-Harris Administration that has brought us another step closer to regaining all jobs lost during the pandemic. Since President Biden took office, the American economy has created more than 8 million jobs. Now, the Biden-Harris Administration is building on the progress of the past year as we transition to a period of stable, steady economic growth that works for working families.

“Our jobs recovery is not an accident – it’s the result of President Biden’s focus on growing our economy from the bottom up and the middle out,” said Building Back Together Executive Director Danielle Melfi. “At this time last year, 15.5 million people were receiving unemployment checks. Now, thanks to President Biden’s economic policies, that number has fallen to just 1.3 million – a 95% decrease since he took office. And unlike the ultra-MAGA agenda, which would raise costs and taxes for working families, President Biden is laser-focused on building on this progress, fighting inflation, and bringing down costs as our economy moves a new phase of stable and steady growth in our historic recovery.”

Thanks to President Biden’s leadership, our recovery from the pandemic continues to be historic:

  • Today’s jobs report shows 390,000 jobs added in May, with the U.S. on track to fully regaining all jobs lost during the pandemic, a significant milestone for our recovery.
  • During President Biden’s first year in office, the American economy created more manufacturing jobs on average per month than any other president in the last 50 years.
  • The number of Americans on unemployment insurance is at its lowest level since 1970.
  • Companies continue to invest in American manufacturing, strengthening supply chains, lowering costs for working families, and securing our energy independence.
    • Yesterday, Ford announced an investment that will create 6,000 good-paying, union jobs in Michigan, Ohio, and Missouri building electric vehicles with American workers.
  • Because of the strong economic growth we’re experiencing under President Biden’s leadership, Social Security and Medicare will now be fully funded through 2034 – a year longer than previously expected.
    • The MAGA agenda, on the other hand, threatens to end Social Security and Medicare by putting these critical programs on the chopping block every five years.


While President Biden is fighting to build our economy from the bottom up and the middle out, the MAGA agenda means raising taxes for small business owners, threatening Social Security and Medicare, and hiking the cost of essentials like prescription drugs.

  • The MAGA agenda would raise taxes on middle class families – including on half of small business owners.
  • MAGA extremists also oppose President Biden’s fully-paid-for plan to cut costs for American families – after having voted for the previous administration’s tax giveaway, which gives 83% of benefits to the top 1%.
  • The dangerous MAGA agenda would raise costs for families, threaten our economic recovery, and weaken the middle class.

In the year and a half since he took office, President Biden has led the most significant economic recovery in our history – from record job creation to historic infrastructure investment – and he continues to fight for his plan to lower costs for American families.

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