Biden’s Jobs Boom: How Policies Boosted the Labor Market Recovery in 2021

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Biden good

Biden’s Jobs Boom: How Policies Boosted the Labor Market Recovery in 2021
https://www.americanprogress.org/ar...es-boosted-the-labor-market-recovery-in-2021/


Thank you, President Biden!

NO MULARKEY!
The latest data from the U.S. Bureau of Labor Statistics show that the labor market has added 7.9 million jobs since President Joe Biden took office in January 2021.1 His administration has made the revival of a flagging economy its top priority, with an emphasis on providing more assistance to struggling families. In early March 2021, Congress passed the administration’s American Rescue Plan Act (ARPA). In the 13 months from March 2021 through March 2022, the economy added 7.2 million jobs.2
Were President Biden’s policies the cause of this boom? This much is clear: The data show that his fiscal policies directly accelerated job growth, with the ARPA leading to the creation of 1 million to more than 4 million additional jobs since it went into effect. Now, it is time for Congress to build on these progressive accomplishments by enacting further measures, paid for by a more progressive tax system, to maintain jobs momentum and reduce persistent inequality.

An astonishing jobs boom in 2021​

There has been an unprecedented jobs boom since President Biden took office. Indeed, the labor market added 6.7 million jobs in the first 12 months of his administration. No other president since World War II saw such strong growth in their first—or any—year in office.3
Even in relative terms, the 4.7 percent increase in jobs created during President Biden’s first 12 months in office marks the fastest start in terms of jobs growth for any presidency since Jimmy Carter’s first year.4 Likewise, the recent 2.4 percentage-point drop in the unemployment rate, from 6.4 percent in January 2021 to 4 percent in January 2022, is the fastest decrease in unemployment during the first year of any presidential term since World War II.5

 

[pecksniff]

Well, of course the economy was bound to recover after lockdowns mostly ended.

 

[Rotadom]

Well, of course the economy was bound to recover after lockdowns mostly ended.

Now read the article.