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* The COVID-19 pandemic and the Great Resignation had a dramatic influence in statistics presented, including a sharp increase in unemployment rate at the time of changes from Trump to Biden. Annualized change in unemployment rate over each presidency from Truman to Biden, ordered from best-performing to worst-performing economic performance.
What was the unemployment rate under Trump? According to Bureau of Labor Statistics, unemployment during Trump's presidency peaked in April 2020 at 14.8%, heavily due to the COVID-19 pandemic ...
The unemployment rate sat at 3.5% in February 2020 but jumped to 14.8% during the pandemic. The unemployment rate now is lower than when Trump left office, but it ticked up in recent months.
Level of education: Historically, as educational attainment rises, the unemployment rate falls. For example, the unemployment rate for college graduates was 2.4% in May 2016, versus 7.1% for those without a high school diploma. [96] Technology trends, with automation replacing workers in many industries while creating jobs in others.
In the 32nd month of Biden’s term (October 2023), unemployment hit 3.8 percent, compared with a 3.6 percent rate at the same point in Trump’s presidential era.
The Washington Post reported on separate studies by two economists that concluded increasing the top marginal tax rate for the top 1% of income earners from the 2018 37% rate to a 70% rate could increase revenue by up to $3 trillion over 10 years in total. This estimate may be high because the wealthy might find methods of evading some of these ...
The record unemployment rate reported on Friday captured the pain of a nation where tens of millions of jobs suddenly vanished, devastating the economy and forcing President Donald Trump to ...
The unemployment rate at the end of Trump's term would have been higher but for the 3.9 million people who dropped out of the labor force (i.e., stopped looking for a job) between February 2020 and January 2021 (and are thus not counted in the unemployment rate). [212]