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.
Issues: Unemployment rate
Biden’s Numbers, April Update
Biden’s Numbers, January 2023 Update
Biden’s Numbers, October 2022 Update
Biden’s Misleading Claims About the Economic Recovery and Unemployment
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.”