“Supercharged” U.S. Economy Gained 6.6 Million Jobs In Biden’s First YearExperts say it’s the best first year record of any president since President Truman.
By Main Street Sentinel Staff
US employers added a historic 6.6 million jobs over the course of President Biden’s first year in office — an increase of 4.6% over the previous year, according to new reports from the United States Department of Labor.
Overall, the economy grew by 5.7% in 2021, the most growth the US has seen since 1984.
Mark Zandi, the chief economist at Moody’s Analytics, said that the American Rescue Plan signed by President Biden in March 2021 was a major contributor to the strong jobs numbers. According to Zandi, the US would have gained only around 3 million jobs without the American Rescue plan. He said that the package alone likely created an additional 3.7 million jobs: “It supercharged the economy.”
These figures represent the best first year jobs record of any president going back to former President Harry Truman.