President Biden: Bidenomics In Action
- August 04th, 2023
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President Joe Biden hailed the latest employment report as a testament to the success of his economic policies, commonly referred to as Bidenomics. With unemployment reaching a record low and the proportion of employed working-age Americans hitting a 20-year high, the President touted the achievements of his economic approach.
Last month, the economy saw a surge of 187,000 new jobs, contributing to a total of 13.4 million jobs added during Biden's tenure — a feat surpassing the job creation of any previous four-year presidential term. The unemployment rate now stands at an impressive 3.5%, maintaining a steady trend below 4% for a year and a half.
The positive news comes on the heels of the economy's continuous growth and a significant drop in inflation, which has decreased by almost two thirds, reaching its lowest point in over two years. President Biden emphasized his administration's focus on cultivating a strong economy that benefits the middle and lower classes, evident through lowered costs for hardworking families and strategic investments across various sectors in the United States.
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