Democratic Party of Georgia Statement on Robust July Jobs Report

Last month’s jobs numbers are the latest sign President Biden and Democrats’ economic plan is working – with zero help from Republicans

Today, after the U.S. Department of Labor announced that nonfarm payrolls increased by a whopping 943,000 jobs in July, Congresswoman Nikema Williams, Chair of the Democratic Party of Georgia, released the following statement:

“Today’s job report is strong evidence that President Biden and Democrats’ economic plan to build back better from the bottom up and the middle out is working. Millions of Americans are getting back to work, and working families right here in Georgia are seeing the results — no thanks to Republicans standing in the way.

“As each day passes, it becomes more clear that Democrats are providing the stable leadership our country — and our economy — needs to fully recover from the pandemic. While we have made historic progress, leaders on both sides of the aisle in Washington must pass the president’s jobs and infrastructure plan to invest in America’s future and ensure that we can win the 21st century.”

Here’s a look at the economic progress our country has made thanks to the leadership of President Biden, Senators Ossoff and Reverend Warnock, and Representatives Bishop, Bourdeaux, Johnson, McBath, Scott, and Williams: 

• The unemployment rate fell to 5.4 percent in July, down from 5.9 percent in June, and the United States has now recovered approximately 75 percent of jobs lost during the pandemic. 

• In the past six months, the economy has gone from creating only 60,000 new jobs a month to creating 60,000 jobs roughly every two days. In total, the economy has added a record-shattering four million jobs since the president took office.

• The average number of new unemployment insurance claims has been cut by more than half and small business optimism has returned to its 2019 average. 

• Independent projections from the CBO, the IMF, the Federal Reserve, the World Bank, the OECD, and many others all forecast America this year reaching the highest levels of economic growth in nearly four decades.  

• The economy has grown at a 6.4 percent annualized rate so far this year—far higher than forecasters had predicted at the end of last year.

• Paychecks are growing at the strongest rate before the pandemic since 2006, as companies are competing for workers and boosting wages as a result.

• New analysis by the Urban Institute estimates that President Biden’s American Rescue Plan will lead to a nearly 45 percent decline in the number of Americans living in poverty this year. 

• 90 percent of families with children will get an average tax cut of $4,380 this year thanks to the American Rescue Plan. The Child Tax Credit could help cut child poverty in half by next year.

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