December’s job report shows that President Biden is continuing to put the American economy back on track. In less than one year, the President has brought the country’s unemployment rate down to 3.9 percent — a number not expected until 2026. Following today’s strong job report, which showed almost 200,000 jobs created, Michigan Democratic Party Chair Lavora Barnes released the following statement:
“Thanks to the steadfast leadership of President Biden, we’re starting the New Year with over six million new jobs created in the last year. The Congressional Budget Office estimated we wouldn’t see our unemployment rate so low until the end of 2026 — but thanks to historic investments from President Biden, we’re way ahead of schedule.
“While Republicans in Congress try to block President Biden’s agenda, Democrats in Washington and Governor Whitmer know there’s still more work to do to put money in people’s pockets, boost vaccination rates to keep our economy open, and pass legislation that will create millions of jobs.”
Here’s a look at the economic progress our country has made thanks to President Biden and Democrats’ leadership:
- The economy has added 6.4 million jobs since President Biden took office — regaining 84% of the jobs that were lost during the pandemic. 2021 saw the largest yearly increase in labor force participation since 1996.
- Under Joe Biden’s leadership, an average of 537,000 jobs were created per month in 2021.
- The United States of America is the only major economy in the world where the economy as a whole is stronger than before the pandemic.
- Applications for new small businesses are up by 30% from before the pandemic and we’ve seen the fastest economic growth in nearly 40 years.