Administration of Joseph R. Biden, Jr., 2024

August 2, 2024

Since Vice President Harris and I took office, our economy has created nearly 16 million jobs, average unemployment has been lower than during any administration in 50 years, and incomes have risen faster than prices. Today's report shows employment is growing more gradually at a time when inflation has declined significantly. Business investment remains strong thanks in part to our "Investing in America" agenda, which is creating good-paying jobs in communities that have been left behind. There's more to do, but we're making progress growing the economy from the middle out and the bottom up.

Prices are still too high. We will keep fighting to lower costs by taking on price gouging, capping prescription drug costs, and building more homes. Congressional Republicans are siding with special interests at the expense of the middle class, with more tax cuts for billionaires and big corporations while threatening Social Security and Medicare. While they try to take us back, we will keep fighting for the future.

Categories: Statements by the President : Employment situation in July, Bureau of Labor Statistics report.

Names: Harris, Kamala D.

Subjects: Bureau of Labor Statistics; Economic improvement; Household income and wages; Housing, affordability and access; Inflation; Job creation and growth; Prescription drug costs, reduction efforts; Vice President.

DCPD Number: DCPD202400669.