Hoyer: 256,000 New Jobs, Unemployment Near 50-Year Low
Last week’s US Labor Department’s jobs report revealed that December 2024 marked the 47th consecutive month of job growth under the Biden-Harris administration, said Rep. Steny H. Hoyer. In that time, 16.6 million jobs were added to the economy, including 256,000 just this past month.
“Unemployment has dropped to 4.1% from 6.7% four years ago, hovering near its fifty-year low,” he said. “This is far more than a post-pandemic rebound, with 7.2 million more Americans working than in February 2020, the month before the pandemic began. This progress is the undeniable result of President Biden and Democrats’ efforts to rebuild our economy for the future by Investing in America.”
Americans started a record 20 million small businesses since January 2021, the congressman said.
“GDP grew at a healthy pace throughout Biden’s presidency. We’ve brought inflation down from a peak of 9% in 2022 to 2.7% today. This year, investment in new factories in America reached its highest level in more than 40 years,” Rep. Hoyer said. “Responding to the incentives Democrats put on the table, over the last four years private companies have announced a historic $1 trillion in commitments to expand American semiconductor manufacturing, clean energy, and other crucial industries. Although many Americans are still struggling, we would be far worse off had Democrats not made historic investments to help American workers and businesses get ahead in the 21st century global economy.
He said that Democrats built the economy back even stronger than before the pandemic.
Congressman Hoyer is chair of the Regional Leadership Council.
For more information about Rep. Steny H. Hoyer, visit his Leader member page.
