Biden Recovery – Unemployment at Lowest Level in 54 years

Today, the U.S. Department of Labor’s Bureau of Labor Statistics released the monthly Jobs Report which shows the unemployment rate has dropped to 3.4% with more than a half million jobs created in January and 800,000 manufacturing jobs created in the last two years.

This follows the Commerce Department’s Bureau of Economic Analysis  in January that Gross Domestic Product (GDP) grew at 2.9% for the last quarter of 2022 and that real wages were higher last month than they were seven months ago.

“Let’s not forget where we were when the President took office – the economy was in crisis,” said Commerce Secretary Gina Raimondo. “Now, we’ve achieved record job creation, record low unemployment, and a record number of small business applications. America is on the move once again.”

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