Joe Biden boasts of greatest presidency for job growth in history

Posted by Admin January 10, 2025 Jobs

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President Joe Biden had good news to deliver in the final jobs report of his administration, which saw jobs growth that defied expectations.

Speaking from the Roosevelt Room in the White House on Friday evening, Biden touted the “transformational progress” the economy has made under his watch.

Biden said 16.6 million new jobs were created, adding that it was “most of any single presidential term in history.”

“I believe the economy I’m leaving is the best in the world and stronger than ever for all Americans,” Biden said. “So I think that’s we have. We’ll see what the next president does.”

U.S. job growth unexpectedly accelerated in December. The unemployment rate fell from 4.2% to 4.1% as the labor market ended the year on a solid footing, reinforcing views that the Federal Reserve would keep interest rates unchanged this month.

The economy added 256,000 job in December, the Labor Department reported on Friday.

White House Press Secretary Karine Jean-Pierre said the Biden-Harris administration was the only administration to gain jobs every month.

“We had zero months with job losses. This was no accident,” said she Friday during the White House press briefing. “President Biden’s administration has delivered the strongest recovery in the world and laid a strong foundation for years to come by investing in America, empowering workers and unions, lowering costs and supporting small businesses.”

The Labor Department’s closely watched employment report on Friday also showed a decline last month in the number of people who have permanently lost their jobs and a shortening in the median duration of unemployment. A rise in these measures had raised concerns about labor market deterioration.

Nonfarm payrolls increased the most since March, the Labor Department’s Bureau of Labor Statistics said. Data for October and November was revised to show 8,000 fewer jobs added than previously reported.

Health care led the job gains with 46,000. Retail added 43,000, bouncing back from disappointing holiday hires in November. The public sector added 33,000 jobs; leisure and hospitality, which includes restaurants and bars, 43,000; and professional and business services, 28,000.

For months, hiring has been concentrated in health care, government and leisure and hospitality, signaling underlying weakness in the broader private-sector job market. December’s sturdy gains in retail and professional services show job growth widening to a healthier mix of industries, said Julia Pollak, chief economist of ZipRecruiter, a job search site.

Contributing: Reuters; Paul Davidson, USA TODAY