{"id":1036841,"date":"2024-07-05T11:32:14","date_gmt":"2024-07-05T15:32:14","guid":{"rendered":"https:\/\/democrats.org\/?p=1036841"},"modified":"2024-07-05T11:32:14","modified_gmt":"2024-07-05T15:32:14","slug":"new-latest-jobs-report-shows-president-biden-continues-to-grow-the-economy-for-hardworking-families","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-latest-jobs-report-shows-president-biden-continues-to-grow-the-economy-for-hardworking-families\/","title":{"rendered":"NEW: Latest Jobs Report Shows President Biden Continues to Grow the Economy for Hardworking Families"},"content":{"rendered":"\n

Today\u2019s jobs report<\/a> shows 206,000 new jobs were created in June, for a total of over 15.7 million jobs created under President Biden\u2019s leadership. Now, more Americans are joining the workforce, with the highest share of working-age Americans in the workforce in over 20 years. While Donald Trump and MAGA Republicans want to extend their disastrous tax scam that helps billionaire CEOs pay even less in taxes and leaves working families behind, today\u2019s jobs report <\/strong>is another sign of economic strength as President Biden and Democrats across the country continue to fight every day to give every American a fair shot.<\/p>\n\n\n\n

NEW: Today\u2019s jobs report reflects how President Biden\u2019s economic agenda continues to deliver for the American people.<\/strong><\/p>\n\n\n\n

Associated Press<\/a>: \u201cUS employers added solid 206,000 jobs in June in sign of continued economic strength\u201d<\/p>\n\n\n\n

According to Moody\u2019s, Donald Trump\u2019s MAGAnomics agenda would slow down economic growth, trigger a recession by 2025, and<\/strong> increase <\/em><\/strong>unemployment rates.<\/strong><\/p>\n\n\n\n

USA Today<\/a>: \u201cAccording to a <\/strong>Moody\u2019s study<\/strong><\/a>, Trump\u2019s plan would trigger a recession by mid-2025 and an economy that grows an average 1.3% annually during his four-year term vs. 2.1% under Biden.<\/strong> (The latter is in line with average growth in the decade before the pandemic.)<\/p>\n\n\n\n

\u201cNext year, under a Trump administration, inflation would rise from the current 3.3% to 3.6%, well above the 2.4% forecast under Biden, the Moody\u2019s analysis shows. Compared with Biden, the U.S. would have 3.2 million fewer jobs and a 4.5% unemployment rate, a half percentage point higher, at the end of a Trump tenure.\u201d<\/strong><\/p>\n\n\n\n

While President Biden works to lower costs for hardworking families, Donald Trump\u2019s MAGAnomics agenda disproportionately benefits the ultra-wealthy and big corporations \u2013 and he has promised to double down in a second term. <\/strong><\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cTrump\u2019s latest idea to replace all income taxes with tariffs is mathematically impossible, but even if it were feasible, it would dramatically increase income inequality and raise taxes for the bottom 90 percent of households. It would raise taxes for middle-income households by $5,100 to $8,300 while cutting taxes for the top 0.1 percent by at least $1.5 million annually.\u201d<\/strong><\/p>\n\n\n\n

Guardian<\/a>: \u201cThey were billed as a \u2018middle-class miracle\u2019 but according to a new book Donald Trump\u2019s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cTrump and his advisers have discussed deeper cuts to both individual and corporate tax rates that would build on his controversial 2017 tax law \u2026 Further cutting corporate taxes \u2026 would primarily benefit large firms.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Trump] intends to center his economic plans on extending and deepening the Republican tax cuts from 2017.\u201d<\/strong><\/p>\n\n\n\n

President Biden is investing in industries of the future of America, leading a manufacturing boom that\u2019s creating good-paying jobs across the country.<\/strong><\/p>\n\n\n\n

Invest.gov<\/a>: \u201cPresident Biden\u2019s Investing in America agenda is mobilizing historic levels of private sector investments in the United States, bringing manufacturing back to America after decades of offshoring, and creating new, good-paying jobs, including union jobs and jobs that don\u2019t require a college degree.\u201d<\/p>\n\n\n\n

Bloomberg<\/a>: \u201cUS Steel CEO Hails IRA as a \u2018Manufacturing Renaissance Act\u2019\u201d<\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cShift to EVs Triggers Biggest Auto-Factory Building Boom in Decades\u201d<\/strong><\/p>\n\n\n\n

Yahoo News<\/a>: \u201cUnder President Biden, however, a manufacturing boom finally seems to be getting started. <\/strong>Since the beginning of 2022, construction spending on new factories has more than doubled, from an annualized rate of $91 billion in January 2022 to $189 billion in April 2023, the latest data available. That\u2019s the biggest jump, by far, in data going back to 2002.\u201d<\/p>\n\n\n\n

The Hill<\/a>: \u201cA surge in manufacturing construction across the country is grabbing the attention of economists and workers on the ground as legislative efforts to reinvigorate the U.S. industrial base are bearing fruit.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Today\u2019s jobs report shows 206,000 new jobs were created in June, for a total of over 15.7 million jobs created under President Biden\u2019s leadership. Now, more Americans are joining the workforce, with the highest share of working-age Americans in the workforce in over 20 years. While Donald Trump and MAGA Republicans want to extend their […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1036841","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW: Latest Jobs Report Shows President Biden Continues to Grow the Economy for Hardworking Families - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/new-latest-jobs-report-shows-president-biden-continues-to-grow-the-economy-for-hardworking-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-05T15:32:14+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-latest-jobs-report-shows-president-biden-continues-to-grow-the-economy-for-hardworking-families\/\",\"url\":\"https:\/\/democrats.org\/news\/new-latest-jobs-report-shows-president-biden-continues-to-grow-the-economy-for-hardworking-families\/\",\"name\":\"NEW: Latest Jobs Report Shows President Biden Continues to Grow the Economy for Hardworking Families - 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