Press Release - President Biden's Economic Plan is Working, as Nation Continues to See Record Job Growth

President Biden's economic plan is working. Today's employment data shows historic progress for American families and the American economy, including the lowest unemployment rate since before the pandemic, and the biggest decline in long-term unemployment in a decade. And it comes on the heels of yesterday's new unemployment claims, which show initial jobless claims have been cut in half since the President took office.

We are seeing record job growth for the first four months of a presidential administration – 540,000 jobs created each month on average – and American workers are seeing long-overdue wage increases. In the past few months, we've had the most job creation for the start of any American presidency – three times more jobs created than in the first four months of the Trump administration and eight times more than Reagan.

Read the headlines from today's news:

USA Today: U.S. economy added 559K jobs in May and unemployment fell to 5.8% as COVID cases fell, more states reopened, report shows
Barron's: Stocks Are Rising After May Jobs Report
Forbes: The Economy And Job Market Show Promising Signs Of Growth As 559,000 New Jobs Were Added In May
Reuters: Wall St rises as jobs report calms inflation worries
New York Times: The U.S. added 559,000 jobs in May, adding to hope about the economic recovery.
Washington Post: U.S. economy adds 559,000 jobs in May, as the recovery shows signs of strength
Wall Street Journal: U.S. Employers Added 559,000 Jobs in May: Unemployment rate fell to 5.8% in a pickup of the labor market's recovery
Bloomberg: U.S. Job Growth Picks Up in Sign of Progress on Filling Openings
CNN: US labor market recovery picks up steam, adding 559,000 jobs in May

President Biden's economic plan is working.