MICHIGAN — A new jobs report released today shows the U.S. economy continues its strong showing. The report showed that employers added 275,000 jobs in the month of February. This is more evidence that Joe Biden’s economic policies continue to work to create record job numbers.
According to the New York Times, The unemployment rate remained under 4 percent for the 25th consecutive month, the longest streak since the late 1960s. (That streak hit 27 months before ending in February 1970.)
These numbers are in sharp contrast to four years ago when America and the world faced a major economic slowdown that saw job losses under former President Donald Trump match those of Herbert Hoover. Nearly 3 million jobs were lost during the entirety of the Trump presidency, the worst performance by a President since Herbert Hoover by percentage and the most jobs lost by any President ever.
In contrast, Biden’s numbers are the most jobs ever created in raw numbers and the best percentage of jobs created by a President since Lyndon Johnson.
In Michigan, workers have seen increases in each month of the Biden Presidency. A recent report by the University of Michigan predicts job growth to continue through 2025.
From the report:
“We remain cautiously optimistic about Michigan’s economic trajectory over the next two years, judging that an ongoing decline in interest rates coupled with a growing national economy should help Michigan to navigate through the wobbles in the auto industry,” economists from the UM Research Seminar for Quantitative Economics wrote in an updated state outlook they issued this week.
“We believe that Michigan is nearing a roughly neutral point in the economic cycle,” they wrote. “We expect economic growth to slow down from the pace we have seen recently, but we project that the state will avoid a downturn over the next two years.”
