Dept of Labor Report for Dec 2024
The USA Department of Labor released its last jobs report of President Biden’s term in office. The USA added 256,000 new jobs in December 2024, notably more than expected.
Under President Biden, the USA created 16.6 million new jobs. This is the only administration, ever, that has created jobs every month. The unemployment rate ended at 4.1% and the average across this administration was the lowest in 50 years.
After starting in gloomy forecasts, the USA’s economy recovered from the early years of the COVID pandemic quicker, with more new jobs, and with a more rapid ramping down of inflation, than practically any other advanced economy. On average, incomes have gone up more than prices.
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