Jared Bernstein: President Biden has set up an ‘amazing labor market recovery’

White House economic adviser Jared Bernstein touted President Biden’s handling of the U.S. economy ahead of Tuesday’s State of the Union address on “your world.”

Jared Bernstein: Real wages have increased by 12.1 million jobs in the last seven months since this president took office. A manufacturing boom. 800,000 jobs since Biden took office in America again in manufacturing, clean energy, semiconductors, building things. Whoever said that cannot be strongly rejected by this president. The unemployment rate is 3.4 percent, the lowest in 50 years.

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We are doing better than where people thought the economy would be. If you see Long term employment benefit During this expansion, we have surpassed our epidemic levels earlier than almost any other business cycle on record, going back at least to the 1950s. Manufacturing is engaged in its strongest business cycle since 1953. You just don’t make these kinds of economic records unless your economy is doing something right.

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From an economics standpoint, what we’re trying to do is build the strongest economy possible for the American working people. Building this economy from Bottom up and middle out. That’s what the president said he would do when he got here, shots in the arm and checks in the pockets from the rescue plan, orchestrating the amazing labor market recovery that you and I talked about. have been. Now, as an economist, the best thing I can do is keep my head down and push these achievements because they are so important to working Americans. And that’s what we’re doing.

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