New Jobs Numbers Defy Expectations As Bidenomics Grows the Economy Where Trump’s Agenda Failed 

Today’s jobs report shows how President Biden is delivering for America’s hardworking families — the economy has created over 14 million jobs since he took office while unemployment continues to fall and has remained below 4 percent for 22 months in a row, the longest stretch in over 50 years. President Biden’s agenda continues to grow the economy from the bottom up and middle out, while Donald Trump failed the American people with his disastrous leadership that gave tax breaks to big corporations and the ultra-wealthy, incentivized companies to ship jobs overseas, and contributed to the worst jobs record in modern American history.

The November jobs report shows how President Biden continues to deliver for hardworking families across the country.

Heather Long, Washington Post: “Just In: November was another strong month of job gains. The US economy added 199,000 jobs (about 30k came from UAW strike workers returning)

Unemployment rate: 3.7% (It’s been under 4% for 2 years)

Wage growth: 4% y/y (vs 3.2% inflation)


Bloomberg: “US Payrolls Rise 199,000; Jobless Rate Drops to 3.7%”

Let’s not forget: Trump left office with the worst jobs numbers in modern American history. 

Fortune: “Trump to leave office with the worst jobs record since Herbert Hoover”

Washington Post: “President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.”

Trump’s failed economic agenda slowed job growth even before the COVID-19 pandemic had any chance of making an impact. 

Bloomberg: “Trump’s Jobs Record Fell Short of Promises Even Before the Virus”

Bloomberg: “Job growth was slightly slower in Trump’s first three years before Covid than it was during the last three years of the Obama administration, when the economy added 2.7 million jobs a year on average. Under Trump, that average was 2.2 million, until this year’s tumult more than wiped out the gains.”

And Trump’s tax cuts for the ultra-wealthy and big corporations ran up the deficit. 

Washington Post Analysis: “One of President Donald Trump’s lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he’s inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump’s time in office.”

Washington Post Analysis: “The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center.”

Politico: “The nation’s fiscal outlook looks ever bleaker, thanks in part to deficit spending during President Donald Trump’s first term, Congress’ nonpartisan budget scorekeeper projected Tuesday.”

Trump’s reckless trade policies helped contribute to the decimation of the American manufacturing industry – shuttering factories, putting Americans out of work, and incentivizing companies to ship jobs overseas. 

Brookings: “So over the years of the Obama administration there was a gradual recovery in manufacturing jobs and hours worked. Trump managed to destroy that through his ill-advised tariff tantrums in a short two years and put manufacturing into a recession.”

Bloomberg: “Another signature Trump policy, the trade war with China, actually hurt some of the manufacturers and farmers it was supposed to help. The Tax Foundation estimates if tariffs remain, 179,800 full-time equivalent jobs could be lost.”
Washington Post: “U.S. manufacturing was in a mild recession for all of 2019, according to data released Friday by the Federal Reserve.”