Today’s jobs report shows that the economy added 223,000 jobs last month—capping the two strongest years of job growth in history. This is just the latest sign President Biden’s economic plan is working as we continue to transition to more steady, stable growth without giving up all the historic gains achieved for American workers.
- The President’s first two years in office—2021 and 2022—were the two strongest years of job growth in history.
- The unemployment rate is at the lowest level in 50 years.
- Unemployment is near record lows for Black and Hispanic Americans.
- The unemployment rate is at a record low for people with disabilities.
- Hourly wages were up 0.3% in December, following five months in which real wages rose.
- Manufacturing employment continued to grow, with 8,000 manufacturing jobs added last month for 750,000 total manufacturing jobs created since Biden took office.
- The labor force grew as labor force participation continues to grow more quickly in this recovery than past ones, especially for prime age workers.