Meanwhile, the unemployment rate has been under four percent for a continued 16 months. The employment growth comes despite reported concerns of a recession, according to Politico.
President Joe Biden announced historic job growth rates after a May report found that his administration created 339,000 jobs last month alone and 13 million jobs since taking office.
RELATED: President Biden Shares That Over 6.5 Million New Jobs Have Been Created In One Year
Manufacturing, Leisure & Travel Among Strongest Job Markets, White House Says
Senior economic advisor Daniel Hornung tells The Shade Room that President Biden has created more jobs in the last 28 months than any president has made in an entire four-year term.
“Manufacturing has seen some of the most sustained growth in terms of jobs, which is something a lot of folks said couldn’t be done in America,” Hornung said. “I think (this report) has proved that the president can create manufacturing jobs in the United States.”
Hornung added that other industries, such as leisure and travel and healthcare, are also at the forefront of the president’s job growth. According to Hornug, they have benefited from a business boon following COVID-19 recovery efforts.
Meanwhile, annual inflation has decreased for a consecutive ten months. According to the Bidan administration, wages are also higher than ten months ago. (The measure, however, has been “adjusted for inflation.”)
Additionally, senior officials report that “prime-age” women’s participation in the labor market is the highest since 1948.
Our economy gained 339,000 jobs in May.
That’s a total of 13 million jobs created under President Biden.
And more jobs in 28 months than any President has created in a four-year term. pic.twitter.com/llNIdv1toQ
— The White House (@WhiteHouse) June 2, 2023
Job Growth Comes Despite Concerns Of Recession
Hornung says that remote work is aiding job growth, too. Companies have the freedom now to hire beyond their locale, creating more opportunities in communities where public transportation are few and far between.
Remote work has also put Americans with disabilities back into the workforce, allowing them “a proliferation of work options through remote opportunities,” White House officials added.
It's hard to emphasize just how much the current rate of job growth is best described as "EXTRAORDINARILY ROBUST".
Job growth at this rate, this far into a recovery, with unemployment this low, is pretty close to unprecedented.
— Justin Wolfers (@JustinWolfers) June 2, 2023
