According to today’s jobs report, in the month of December under the Biden-Harris Administration, the United States added over 800,000 jobs across all sectors – more than triple the number created during Donald Trump’s first December in office.
CNN: “Economists had predicted 400,000 private sector jobs were added last month, but the report came in at a whopping 807,000.”
CNN: “It was the second-strongest jobs total of the year, according to ADP, surpassed only by the 882,000 jobs added in May.”
CNBC: “Hiring was broad-based, though leisure and hospitality led with 246,000 new positions. Trade, transportation and utilities contributed 138,000, professional and business services increased by 130,000, and education and health services added 85,000.”
These whopping numbers cap off a year of historic economic growth as communities across the country experience a record recovery thanks to the leadership of President Biden and congressional Democrats.
The New York Times: “The unemployment rate, 6.7 percent in December 2020, fell to 4.2 percent 11 months later. That same shift took three and a half years in the last expansion, from March 2014 to September 2017.”
The New York Times: “Wages have been rising rapidly. Companies have been forced to be more creative, flexible and aggressive in attracting a work force.”
The New York Times Opinion: “But one thing is clear: 2021 was a banner year for economic recovery. And people should know that.”
In 2022, new data shows that inflation – much to Republicans’ disappointment – continues to cool while job growth remains strong.
Bloomberg: “Inflation Shows Signs of Cooling in U.S. Manufacturing Data”
The New Yorker: “Most professional economic prognosticators think that 2022 will be another strong year of recovery from the virus-induced slump of 2020. The Conference Board is predicting growth of 3.5 per cent; Goldman Sachs is predicting 3.8 per cent; Bank of America says four per cent.”