US economy

Biden Touts Low Unemployment Rate Despite Economic Anxiety


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Biden Touts Low Unemployment Rate Despite Economic Anxiety

President Biden praised November’s unemployment rate falling to 4.2 percent and claimed credit for the fastest calendar-year drop in the jobless rate in American history.

Every year, December brings the joys of the holiday season, and gives us an opportunity to reflect on the year gone by, and look ahead and begin to imagine the new year to come. This year, we can reflect on an extraordinary bit of progress. Our economy is markedly stronger than it was a year ago, and today the incredible news that our unemployment rate has fallen to 4.2 percent. At this point in the year, we’re looking at the sharpest one-year decline in unemployment ever. Simply put, America — America is back to work, and our jobs recovery is going very strong. Because the extraordinary strides we’ve made, we can look forward to a brighter, happier new year ahead in my view. But I also know that despite this progress, families are anxious — they’re anxious about Covid. They’re anxious about the cost of living, the economy more broadly, they’re still uncertain. I want you to know I hear you. It’s not enough to know that we’re making progress. You need to see it and feel it in your own lives, around the kitchen table and your checkbooks.

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