Statement on Unemployment Insurance Claims

Americans are getting back to work at a historic pace, with fewer Americans on unemployment insurance today than at any time in the last half century. This morning we received news that the number of Americans on unemployment insurance fell to its lowest level since 1970 and the number of Americans filing new claims fell to its lowest 1-week level since 1969. This historic progress is no accident: It's the result of an economic strategy to grow the economy from the bottom up and middle out, starting with the American Rescue Plan. And it's the result of effective management of emergency pandemic resources that resulted in 75 percent of adult Americans vaccinated and 99 percent of schools reopened. We have more work to do to cut costs for families, but today's data are a reminder that the U.S. economy is uniquely well positioned to deal with the global challenge of inflation. We will continue the fight to lower costs with every tool at our disposal, from making more here in America and rebuilding our supply chains, to lowering costs that have held back Americans for decades, to promoting competition to ensure markets can operate effectively and consumers are protected.