January 7, 2022 Press Releases

Biden’s Economic Plan is Working: U.S. Unemployment Rate Drops Below 4%

Unemployment down from 6.7% in December 2021, marks the largest calendar-year decrease in unemployment in history

PHOENIX — According to this morning’s U.S. Bureau of Labor Statistics jobs report, the national unemployment rate fell to 3.9% — the lowest of the pandemic — last month as the economy continues to recover under the leadership of President Joe Biden.

In response to the December jobs report, Arizona Democratic Party Chair Raquel Terán released the following statement:

“This morning’s jobs report showed that under President Joe Biden, the U.S. economy added over 6.4 million jobs in 2021 — the most in a single year in American history. What’s more: Our unemployment rate fell to a historically low level of 3.9%, an impressive drop off from last December’s 6.7%.

“It’s incredible what one year of bold, compassionate leadership and sound economic policy can deliver. One thing is clear: President Biden’s economic plan is working. While Republicans sit on the sidelines, block our progress at every turn, and root against the American economy, President Biden and Democrats continue to deliver for Arizonans.”

Here’s a look at the economic progress our country has made thanks to President Biden and Democrats’ leadership: 

  • The Biden-Harris Administration has achieved the best record of job creation in history with an average of 537,000 jobs created per month in 2021. 

  • Since Joe Biden took office, the U.S. economy has added 6.4 million jobs — gaining 84% of the jobs that were lost during the pandemic.

  • 2021 saw the largest yearly increase in labor force participation since 1996.

  • We are the only major economy in the world where the economy as a whole is stronger than before the pandemic.

  • Applications for new small businesses are up by 30% from before the pandemic and we’ve seen the fastest economic growth in nearly 40 years.

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