By any measure, the Biden economy is one of the best economies America has ever had.
President Joe Biden spent most of his recent State of the Union address celebrating his economic record, with good reason. There is no denying the numbers: The United States currently enjoys the highest rate of economic growth among nations in the G7, the lowest inflation, and the strongest wage growth.
The unemployment rate hasn’t been this low for this long in half a century. Even accounting for inflation, wages are higher today than they were before the coronavirus pandemic, and the biggest wage gains have accrued among the lowest-paid workers, resulting in a dramatic reduction in overall wage inequality.
The economy is even outperforming among communities that are often excluded from boom-time gains. Biden has overseen the lowest Black unemployment rate on record and the lowest ever unemployment rate for workers with disabilities.
The American economy isn’t perfect, but by any historical standard it is very, very good.
The unemployment rate hasn’t been this low for this long in half a century. Even accounting for inflation, wages are higher today than they were before the coronavirus pandemic, and the biggest wage gains have accrued among the lowest-paid workers, resulting in a dramatic reduction in overall wage inequality.
The economy is even outperforming among communities that are often excluded from boom-time gains. Biden has overseen the lowest Black unemployment rate on record and the lowest ever unemployment rate for workers with disabilities.
The American economy isn’t perfect, but by any historical standard it is very, very good.
