President Biden announces historic job growth in May Report
President Joe Biden announced historic job growth rates after a report in May found his administration created 339,000 jobs last month alone and 13 million jobs since taking office.
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Manufacturing, Leisure & Travel Among Strongest Job Markets, White House Says
Senior economic advisor Daniel Hornung explains The Shadow Room that President Biden has created more jobs in the last 28 months than any president has done in an entire four-year term.
“Manufacturing has seen some of the most sustained growth in terms of jobs, which many say could not be done in America,” Hornung said. “I think (this report) has proven that the head- create manufacturing jobs in the United States.”
Hornung said other industries, such as leisure and travel and health care, are also at the forefront of the president’s job growth. According to Hornug, they have benefited from a business bonus after efforts to recover from COVID-19.
At the same time, annual inflation has decreased for ten months in a row. According to the Bidan administration, salaries are also higher than ten months ago. (The amount, however, has been “adjusted for inflation.”)
In addition, senior officials report that participation of “prime-age” women in the labor market is at its highest level since 1948.
Our economy gained 339,000 jobs in May.
That’s a total of 13 million jobs created under President Biden.
And more jobs in 28 months than any President has created in a four year term. pic.twitter.com/llNIdv1toQ
— The White House (@WhiteHouse) June 2, 2023
Job growth comes despite recession worries
Meanwhile, the unemployment rate has been below four percent for 16 consecutive months. The employment growth comes despite reported concerns about a recession, according to politics.
Hornung says remote work supports job growth as well. Companies now have the freedom to hire outside of their area, creating more opportunities in communities where there is little public transport at all.
Telecommuting has also put Americans with disabilities back into the workforce, allowing them to “multiply work options through remote opportunities,” White House officials said.
It is difficult to emphasize just how best to describe the current rate of job growth as “ROBUST RESULTS”.
Job growth at this level, so far back into the recovery, with unemployment so low, is pretty close to unprecedented.
– Justin Wolfers (@JustinWolfers) June 2, 2023