Press Release
Posted:
St. Helena – Today, Rep. Mike Thompson (CA-04) highlighted the December jobs report that continued 35 consecutive months of job growth and historically low unemployment rates.
“Since January of 2021, we have experienced the fastest job growth in our history,” said Thompson. “Wages are outpacing inflation, unemployment remains at historically low levels, and the labor force participation rate remains near its highest level since before the pandemic. There is a lot more work to do to ease the burden that Americans are feeling on their pocketbooks, but these numbers are helping to move us towards an economically secure future.”
The U.S. economy added 216,000 jobs in December, for a total of 2.7 million jobs in 2023. The three-month average job growth is now at 165,000 jobs a month. Under President Biden (since January 2021), 14.3 million jobs have been added to our economy, 4.9 million jobs above the February 2020 peak.
The unemployment rate is at 3.7 percent. Unemployment has been below 4 percent for 23 months in a row, the longest time in over 50 years. Unemployment levels are below projections from early 2021 and are near full employment levels.