AMERICA IS BACK TO WORK: UNDER PRESIDENT BIDEN, U.S. EXPERIENCING HISTORIC JOBS RECOVERY
FOR IMMEDIATE RELEASE: May 6, 2022
PRESS CONTACT: [email protected]
AMERICA IS BACK TO WORK: UNDER PRESIDENT BIDEN, U.S. EXPERIENCING HISTORIC JOBS RECOVERY
NPR: “The US jobs market continues its strong comeback from the pandemic”
There have only been 3 months in the last 50 years when the unemployment rate in America was lower than it is now
WASHINGTON, D.C. — Last month, the U.S. economy created 428,000 jobs, continuing a pattern of historic growth under President Biden and marking another step closer to full recovery of all jobs lost due to the pandemic – a milestone experts estimate we will reach by August. American workers have experienced record gains over the past year, and President Biden is fighting to build on this economic progress. President Biden’s economic record stands in stark contrast to Republicans in Congress, who uniformly opposed President Biden’s American Rescue Plan – and have put forth a plan to increase taxes and hike costs for small business owners, seniors, and middle class families.
“Under President Biden, Americans have seen the fastest economic recovery in nearly four decades that has created over 8 million jobs – including 473,000 in manufacturing – more jobs created in the first 15 months of any President’s term ever,” said Building Back Together Executive Director Danielle Melfi. “President Biden continues to fight to fuel our country’s economic growth and lower the cost of living for American families, while Republicans in Congress champion plans to raise taxes on the middle class and sunset critical programs like Medicare and Social Security.”
Under President Biden’s leadership, our economy – powered by working families – is on the move.
- WSJ: “Job growth was broad based. Leisure and hospitality industries drove last month’s job gains, adding 78,000 jobs. Factories added 55,000 workers and transportation and warehousing employers grew payrolls by 52,000.”
- WSJ: “Demand in the U.S. has continued to be strong—Americans are still spending at a solid clip, particularly on services such as concerts and travel.”
- NYT: “April produced another solid month of job growth, the Labor Department reported Friday, reflecting the economy’s resilient rebound from the pandemic’s devastation.”
- CNBC: “Job growth accelerated by 428,000 in April, more than expected as jobs picture stays strong”
Measure after measure shows our recovery has been nothing short of historic:
- Today’s jobs report shows the U.S. is on a path to fully regaining all jobs lost during the pandemic, a significant milestone for our recovery, and one that experts estimate we will reach this summer.
- Consumer spending and both business and residential investment have increased at strong rates in recent months.
- The number of Americans on unemployment insurance is at its lowest level since 1970.
- And a recent report highlights the small business boom under the Biden-Harris Administration: Americans started 5.4 million new small businesses in 2021, and small businesses with less than 50 employees created more than 1.9 million jobs.
While President Biden is fighting to build our economy from the bottom up and the middle out, Republicans in Congress have a different approach – one that caters to big businesses and the wealthiest 1%.
- Congressional Republicans have endorsed raising taxes on middle class families – including on half of small business owners.
- They 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 pattern is clear: Congressional Republicans’ agenda would raise costs for families, threaten our economic recovery, and weaken the middle class.
President Biden is ready to work with Congress to pass further legislation to cut the cost of essentials for families – including prescription drugs, utilities, housing, child and elder care, and more.
###