Under President Joe Biden, the Latino unemployment rate reached a low of 3.9% in September 2022 — the lowest rate since September 2019. But Biden recently said that the rate under his presidency was the lowest in “a long, long time.”
When a politician boasts of a “record,” our ears perk up. Is it really a record? In President Joe Biden’s case, when it comes to economic growth and unemployment, it’s simply not.
In recent speeches touting so-called Bidenomics, President Joe Biden has repeatedly cited the statistic that “unemployment has been below 4% for the longest stretch in over 50 years.” That’s true, but there’s some cherry-picking going on.
A quarterly update of statistical measures of the president’s time in office.
Here’s how the United States has fared since President Joe Biden took office two years ago.
Various measures of what has happened in the country since the president’s inauguration.
When President Biden signed the American Rescue Plan into law in March 2021, U.S. gross domestic product had increased for three quarters straight, and the unemployment rate had decreased nearly nine percentage points from its pandemic peak. But Biden wrongly credited the Democratic COVID-19 relief bill with rescuing a U.S. economy “in decline.”
The most recent statistical measures of how the U.S. has changed since the president took office.
Statistical measures of the president’s term to date.
Statistical indicators of President Trump’s four years in office.