Jan 20, 2021
Unprecedented Economic Boom
Before the China Virus invaded our shores, we built the world’s most prosperous economy.
- America gained 7 million new jobs – more than three times government experts’ projections.
- Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration.
- The unemployment rate reached 3.5 percent, the lowest in a half-century.
- Achieved 40 months in a row with more job openings than job-hirings.
- More Americans reported being employed than ever before – nearly 160 million.
- Jobless claims hit a nearly 50-year low.
- The number of people claiming unemployment insurance as a share of the population hit its lowest on record.
- Incomes rose in every single metro area in the United States for the first time in nearly 3 decades.
Delivered a future of greater promise and opportunity for citizens of all backgrounds.
- Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows.
- Unemployment for women hit its lowest rate in nearly 70 years.
- Lifted nearly 7 million people off of food stamps.
- Poverty rates for African Americans and Hispanic Americans reached record lows.
- Income inequality fell for two straight years, and by the largest amount in over a decade.
- The bottom 50 percent of American households saw a 40 percent increase in net worth.
- Wages rose fastest for low-income and blue collar workers – a 16 percent pay increase.
- African American homeownership increased from 41.7 percent to 46.4 percent