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Today’s jobs report is yet another sign that Bidenomics is working:

• 187,000 jobs created in July,
• Unemployment rate fell to 3.5% – under 4% for 18 months in a row, the longest stretch in over 50 years,
• Share of prime working age Americans who have jobs is near a 20-year high,
• As of June, wages are higher than a year ago, accounting for inflation.

Today’s report is the latest in a string of strong economic indicators:

• GDP report showed the economy grew at a 2.4% rate last quarter – beating expectations, with business investment increasing by nearly 8%,
• Morgan Stanley credited the president’s economic plan – Bidenomics – for “much stronger” than expected growth this year,
• Consumer confidence jumped to a two-year high,
• The PCE report showed annual inflation is at its lowest rate in nearly two years.

Since President Biden took office, his economic plan – Bidenomics – has been growing our economy from the bottom up and middle out:

• The U.S. has seen the highest economic growth among leading economies since the pandemic,
• About 13.3 million jobs created,
• Manufacturing coming back with nearly 800,000 new manufacturing jobs created, with companies investing in communities often left behind,
• Annual inflation falling for 12 straight months – to the lowest level in 2 years,
• Historically low unemployment rate for the longest period in more than 50 years,
• Reached record low unemployment rate for African Americans, Hispanic Americans, and people with disabilities,
• Share of women aged 25 to 54 in the workforce is at a 70-year high, 
• More small businesses created in first two years of this presidency than ever before,
• Bipartisan Infrastructure Law rebuilding roads and bridges, creating good-paying jobs, and spurring economic development,
• Inflation Reduction Act lowering the cost of prescription drugs and health care, tackling climate change, and making investments in clean energy.

And people are starting to feel it:

• About 3/4 of Americans are satisfied with their financial well being,
• Job satisfaction is at a record high.

Meanwhile, Donald Trump’s presidency showed what MAGA control of our economy looks like, and we can’t go back. His record speaks for itself:

• Left office with the worst jobs record since the Great Depression,
• Proposed cuts to Medicare and Social Security programs every year he was in office,
• Blew up the deficit to give massive tax cuts that rigged the economy for the ultra-wealthy and big corporations, 
• Created incentives to ship jobs overseas,
• Turned “infrastructure week” into a punchline that he failed to deliver.