U.S. Bureau of Labor Statistics (BLS) monthly report

U.S. Economy Adds 142,000 Jobs in August, Nears 16 Million Under Biden-Harris Administration, Unemployment at 4.2%

Sep 6, 2024, 06:29 PM

The U.S. economy has experienced significant growth under the Biden-Harris Administration, with nearly 16 million new jobs created since they took office. In August alone, the economy added 142,000 jobs. This period marks the fastest job growth in history, with wages and salaries outpacing inflation by nearly $4,500 since 2021. The unemployment rate has fallen to a record low of 4.2%, and inflation is below 3%. The administration's efforts have also sparked $900 billion in private manufacturing investments and achieved the three strongest years on record for new businesses. Americans are opening small businesses at a record rate, and August marked the 42nd consecutive month of job growth. Democrats emphasize the importance of continuing these policies to strengthen the economy and lower costs for families.