Since President Joe Biden took office:
The economy added 13.9 million jobs, putting the total 4.5 million higher than before the pandemic.
The unemployment rate dropped for a time to the lowest in nearly 54 years; unfilled job openings surged, with 3 jobs for every 2 unemployed job seekers.
Inflation surged to the highest level in over 40 years. Despite slowing their rise lately, consumer prices are up nearly 17.1% overall. Gasoline is up 50.3%.
Average weekly earnings haven’t kept pace with prices. After adjusting for inflation, “real” weekly earnings dropped 3.9%.
The U.S. murder rate declined by one-half of a point.
Defying economists who have been predicting a recession for more than a year, the economy expanded at an annual rate of 2.2% in the first quarter and 2.1% in the second quarter.
After-tax corporate profits increased in the second quarter of this year — the first increase in a year.
