POTUS’ Economic Agenda Delivers Steady Job Growth and Record Low Unemployment
FOR IMMEDIATE RELEASE: April 7, 2023
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POTUS’ ECONOMIC AGENDA DELIVERS STEADY JOB GROWTH AND RECORD LOW UNEMPLOYMENT
Axios: U.S. economy adds 236,000 jobs in March as labor market stays strong
Washington Post: Labor market adds 236,000 jobs in March, powering economy on
WASHINGTON, D.C. — Today’s strong jobs report shows that the Biden-Harris Administration’s economic agenda continues to face economic challenges from a position of strength. Under President Biden, the U.S. is experiencing an historic economic recovery, middle and working class families are seeing higher wages, and Black unemployment is at a record low.
“Today’s historic unemployment numbers for Black and Latino Americans demonstrates the Biden-Harris Administration’s commitment to delivering for all Americans,” said Building Back Together Interim Executive Director Mayra Macías. “The unemployment rate is nearly the lowest it has been in more than 50 years, and with 236,000 jobs added to the economy last month, it’s clear that the Invest in America agenda is delivering for hardworking families. Thanks to the historic legislation President Biden has signed, it’s not just that Americans are back to work — families across the country are also saving money on the essentials they rely on, from health care and prescription drug costs to energy bills. These economic wins are victories all Americans can celebrate — and the president’s not done yet.”
The president’s economic agenda is building an economy from the bottom up and the middle out:
- Last month, 236,000 Americans found work, bringing the total number of jobs created under President Biden to 12.6 million.
- The U.S. has regained all jobs lost during the pandemic, and created 3 million more.
- Overall unemployment is near a 50-year low at 3.5%, with Black unemployment at a record low.
- Annual inflation has fallen over the last 8 months.
The president is working to make our economy even stronger by investing in America – while Republicans in Congress have no plan for how they will cut costs for hardworking families:
- President Biden’s Invest in America agenda is making critical investments in infrastructure, innovation, and manufacturing to create good-paying jobs that don’t require a college degree.
- We’ve seen more than $435 billion in private sector investments since President Biden took office.
- These are investments that benefit hardworking families in every community across the country – including those who historically have been left out and left behind.
- Meanwhile, Republicans in Congress are threatening to wreak havoc on our economy and kill millions of jobs with chaotic default.
- They’re willing to send the unprecedented investments we’ve made in America, including hundreds of thousands of good-paying manufacturing jobs, overseas.
- And they’ve threatened to cut funding for health care and Medicaid, law enforcement and public safety, education and veterans, border security, and national security.