Press Release - President Biden's Economic Plan is Working as Unemployment Numbers Reach Another Low

President Biden's economic plan is working. This morning's unemployment insurance claims mark another low since the pandemic began over a year ago. The four-week moving average has gone down by around 50% since President Biden took office. The headlines of the past few weeks highlight this trend.

1. June 3rd – AP: US jobless claims drop to 385,000, another pandemic low
2. May 27th – WSJ: U.S. Jobless Claims Extend Decline to New Pandemic Low
3. May 20th – Bloomberg: Initial Jobless Claims in U.S. Decline to Fresh Pandemic Low
4. May 13th – Politico: U.S. unemployment claims drop to 473,000, a new pandemic low
5. May 6th – AP: US unemployment claims fall to a pandemic low of 498,000

Thanks to a robust vaccination program, Americans are getting back to work, and President Biden's economic plan – building the economy from the bottom up, and the middle out – is working.