President Joe Biden has boosted the American economy with remarkable numbers for the year’s end. The December jobs report that was just released and showed the U.S. economy added 223,000 new jobs, according to the monthly employment report from the Bureau of Labor Statistics. That proved this was an unusually good year in America’s economy, the next-best labor market year since 1939. The unemployment rate dropped to 3.5 percent in November. An earlier figure showed 3.6 percent for the month.
President Biden has increased America’s economic record-breaking news now that the final numbers have been tabulated. Economists anticipated 200,000 more jobs for December. But Refinntiv showed December’s jobs total number was even better than December’s numbers, according to CNN.
For the year of 2022, President Biden’s economy added almost 4.5 million jobs, which was second only to the 6.7 million added in 2021 following the 9.3 million jobs lost in 2020 due to the pandemic.
Not only that the hourly average job income increased by 0.3 percent compared to the former month and 4.6 percent for the year. November showed a 0.4 percent growth and 4.8 percent annually.
NBC reported the stock market increased dramatically, too:
‘Stock market futures rose following the release as investors look for signs that the jobs market is cooling and taking inflation lower as well.’
And CNN broke out the numbers by sector:
‘By sector, leisure and hospitality led with 67,000 added jobs, followed by health care (55,000), construction (28,000) and social assistance (20,000).’
Better yet, people have been returning to work at a 62.3 percent rate, which was up from 62.2 percent. All-in-all, this has been a remarkable year for President Biden’s economy.