The unemployment rate dropped to 3.8% for March, clocking the 26th straight month of unemployment below 4%–the longest stretch at that level since the late 1960s (per Steve Rattner). The economy added 303,000 jobs in March—beating expectations and driving the stock and bond markets higher. President Biden released a statement, saying
With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office. That’s 15 million more people who have the dignity and respect that comes with a paycheck.
The continued growth in jobs puts the lie to the two year-long media and GOP narrative that a recession “is just around the corner.” Remember when the media and pundits told us Biden and the Democrats were going to lose the November 2022 midterms because the economy was on the brink of collapse?
Not only did disaster not materialize, but Biden’s policies have created a record-breaking amount of new jobs—15 million. Under Trump’s first three years in office (pre-Covid), the economy added only 6.6 million jobs. CNN, How Trump’s three year job gains compare to Obama’s.
