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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.
To be fair, the nation’s jobless rate hit a half-century low of 3.5% during first Trump administration; but when Biden entered office, the unemployment rate was 6.8%. However, the historic ...
* 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.
Among the presidents from Jimmy Carter to Donald Trump, Bill Clinton created the most jobs at 18.6 million, while Ronald Reagan had the largest cumulative percentage increase in jobs at 15.6%. This computation treats the base month as the December before the month of inauguration and last month as December of the final full year in office. [ 2 ]
Trump job numbers vs. Biden-Harris job numbers ... The unemployment rate was 6.7% at the end of his term, up two percentage points from the start of the term. ... compared to 8.7% at the same ...
President Biden inherited a challenging economic and budgetary situation from President Donald Trump, due significantly to the COVID-19 pandemic.As of December 2020, the jobs level was nearly 10 million (6%) below the early 2020 peak, and the unemployment rate was an elevated 6.7%. [12]
In January 2021—the final month of Donald Trump’s presidency—the U.S. Consumer Price Index (CPI) rose by a 1.4 percent annualized rate, compared to 3.2 percent in February 2024 under the ...
The job market also took a significant hit during Trump’s years, with the unemployment rate skyrocketing to a peak of 14.7% by the end of Trump’s presidency.