Biden on 2021 Job Rate

Friday Morning, President Joe Biden spoke to the press in the state dining room on the

economic recovery. President Biden stated that the unemployment rate had fallen below 4

percent to 3.9 percent. This is seen as the sharpest drop in one year for unemployment in U.S.

history.

This is the first time the unemployment rate has dropped below 4 percent in the first year of a presidential term in 50 years. The U.S. has added 6.4 million new jobs since January of last year in one year, President Biden said. Biden credits his “American Rescue Plan” for this

historic accomplishment stating that the “plan got the economy off its back and moving again,

back on its feet,”. President Biden also states that he and his administration brought down the

poverty rate that went from 20 million people to less than 2 million on the unemployment roll.

“The increase in the American labor force was the fastest this year of any year since 1996.”

President Biden said to the press. The prime age of workers ages 25-54 labor force participation

increased which is considered the biggest in 43 years. Wages for men and women who are front line workers went up to a historic high of nearly 16 percent. The overall wage gain for workers subtracting supervisors went up more last year, more than any year in the past four decades. President Biden says that this is the kind of recovery he promised and hoped for the American people. Especially the people who work the hardest that are often left out, who want a decent chance to build a decent life for their families.