The Biden Jobs Recovery Continues As Unemployment Claims Remain Near Historic Low
FOR IMMEDIATE RELEASE: December 16, 2021
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THE BIDEN JOBS RECOVERY CONTINUES AS UNEMPLOYMENT CLAIMS REMAIN NEAR HISTORIC LOW
WASHINGTON, D.C. – Today’s latest economic data underscores the historic economic recovery under the Biden-Harris Administration, as unemployment claims remained near a 52-year low, and the average number of Americans filing for unemployment over the past four weeks hit its lowest level since 1969.
“President Biden has made taking on the pandemic and delivering a strong economic recovery his top priority, and our country’s jobs recovery continues to be one of the strongest ever, boosting American workers everywhere,” said Building Back Together Executive Director Danielle Melfi. “Even as he has built a historic jobs recovery, and fought to ensure Americans can get safely back to work, the President recognizes that Americans are facing other pandemic-induced challenges, and has aggressively taken actions to improve our supply chain and bring down prices. It’s critical that Congress pass the Build Back Better Act to further bring down the cost of health care, prescription drugs, housing, utility bills, and more.”
President Biden continues to deliver a historic economic recovery that has created millions of jobs and put more money in Americans’ pockets:
- The four week average of claims fell to its lowest level since 1969.
- The unemployment rate has fallen faster under President Biden than in any other year in the past five decades — economists projected it would take us until the end of 2024 to reach this level.
- The number of Americans receiving unemployment benefits has dropped from 18 million to 2 million since the President took office.
- Nearly 6 million jobs have been created since President Biden took office — the most of any first- year President in history.
- Americans on average have around $100 more in their pockets each month than they did last year, even after accounting for inflation.
But the President knows that even a small increase in prices can affect a family, which is why he’s taken strong steps to address supply chain challenges and bring down prices:
- The President worked to untangle the supply chain, including bringing private sector companies to 24/7 operations and tackling delays at our ports.
- And, he has taken on corporations that price gouge Americans by raising prices and squeezing consumers even as corporate profits soar, including directing the FTC to investigate anti-consumer behavior by oil and gas companies and in industries that affect food prices.
- As a result, the economy is already improving:
- ABC: “Two weeks after President Biden announced he was tapping into the nation’s oil reserve, fuel prices now coming down […] Prices expected to continue to drop.”
- Business Insider: Key indicators hint the supply-chain crisis is over and inflation will cool off soon
- Politico: Another eye-popping inflation reading is ahead. Next year could look very different.
And he’s not stopping there. Today, the Administration announced a new initiative to strengthen America’s trucking workforce, a key link in our nation’s supply chain:
- NPR: The White House aims to boost the ranks of the pandemic-strained trucking industry
- Roll Call: Biden administration to announce plans to recruit truck drivers