With the release of the December 2024 jobs report, President Joe Biden highlighted significant job growth during his administration. According to the report, 256,000 new jobs were created in December, contributing to a total of over 16.6 million jobs since he took office.
President Biden emphasized that his administration is unique in having consistently created jobs every month. He noted that when he assumed office, unemployment was above 6%, marking one of the worst economic crises in decades. As he leaves office, unemployment stands at 4.1%, representing the lowest average rate for any administration in half a century.
Despite initial forecasts predicting a prolonged recovery period, President Biden stated that his administration achieved strong growth and employment creation compared to other advanced countries. He also pointed out successes in reducing inflation and achieving what he described as a "soft landing" for the economy.
The president highlighted record high employment rates for working-age women and a historic low in the black-white unemployment gap. Additionally, he mentioned that incomes have risen by nearly $4,000 more than prices during his tenure.
Acknowledging ongoing challenges with costs, President Biden cited efforts to reduce prescription drug prices, health insurance premiums, utility bills, and gas prices as measures expected to benefit Americans in the future. He concluded by reflecting on the progress made for working families through policies aimed at building from "the middle out and bottom up."
