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The labor market was strong in 2023. The unemployment rate averaged a very low 3.6% in 2023, as it had in 2022; the last year with an average 3.5% unemployment rate was 1969. [25] The number of persons with jobs continued setting records monthly as it had since June 2022 when the pre-pandemic peak was regained, reaching 157.3 million in ...
Since Biden took office in 2021, real incomes have grown a scant 0.59%. ... of Michigan asks respondents how they rate the odds that income gains will exceed inflation during the next year ...
The record low for the Black or African American unemployment rate, 4.8%, was set under Biden in April 2023. That beat the Trump-era low that was a record at the time, 5.3% in August 2019 and ...
The following year, Biden enacted the $891 billion Inflation Reduction Act and the $280 billion CHIPS and Sciences Act. Over the course of the Biden administration, the labor market expanded at a ...
Richard Nixon (1969-1974) GDP growth: 2.0% Unemployment rate: 5.5% Inflation rate: 10.9% Poverty rate: 12.00% Real disposable income per capita: $19,621 Disposable income per capita (adjusted for ...
Unemployment rate at start of presidency Unemployment rate at end of presidency Change in unemployment rate during presidency (percentage points) Harry S. Truman (data available for 1948–1953 only) Democratic: 1945–1953 3.4% (for January 1948) 2.9% −0.5 (from January 1948 to January 1953) Dwight D. Eisenhower: Republican: 1953–1961 2.9% ...
Joe Biden's tenure as the 46th president of the United States began with his inauguration on January 20, 2021. [1] [2] Biden, a member of the Democratic Party who previously served as vice president for two terms under President Barack Obama, took office after his victory in the 2020 presidential election over the incumbent president, Donald Trump of the Republican Party.
June 7, 2024 at 11:37 AM. Another hotter-than-expected employment report Friday buffeted Joe Biden's labor-market performance, with 15.6 million more jobs now than when the president took office ...