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The Biden Economy

Building back from a financial crisis to the strongest economy in the world.

12.6% GDP growth

16.6 Million jobs created

1.6 Million jobs created in construction and manufacturing

Lowest average unemployment rate in 50 years

Incomes up nearly $4,000

$1 Trillion in private sector manufacturing investments announced

Workers filing for union representation has doubled more than any administration in 5 decades

21 million new business applications - A record

Lowered costs for families by thousands of dollars a year

Data Visualized

Four years ago, the pandemic temporarily brought much of the world economy to a halt. Since then, America's economic performance has left other countries in the dust and even broken some of its own records. The growth rate is high, the unemployment rate is at historic lows, household wealth is surging, and wages are rising faster than costs, especially for the working class.

The Atlantic
The U.S. Economy Reaches Superstar Status

America's outperformance has accelerated recently. Since the start of 2020, just before the covid-19 pandemic, America's real growth has been 10%, three times the average for the rest of the G7 countries. Among the G20 group, which includes large emerging markets, America is the only one whose output and employment are above pre-pandemic expectations.

The Economist
The American economy has left other rich countries in the dust

Many experts predicted the economy would be in a recession by now. That didn't happen.

The Washington Post
Are Americans better off than they were four years ago?

Suddenly, investment in manufacturing has surged. What Trump's trade policies didn't achieve, President Biden's industrial policies have.

The New York Times
Making Manufacturing Great Again

America's so-called "left behind" counties — the once-great manufacturing centers and other distressed places that struggled mightily at the start of this century — have staged a remarkable comeback. In the last three years, they added jobs and new businesses at their fastest pace since Bill Clinton was president.

The New York Times
A Remarkable Comeback

President Biden promised to help America outcompete authoritarian China and to heal some of the economic divides at home. Both those goals are being achieved.

The New York Times
The American Renaissance Is Already at Hand

The U.S. is increasingly pulling ahead of the world's advanced economies, with a surge of investment paying off in higher productivity and wages.

The Wall Street Journal
U.S. Economy Again Leads the World, IMF Says

Source:

"Biden Economy". whitehouse.gov. Retrieved 2024-12-02