The May, 2024 Jobs Report Continues The Biden Administration’s Remarkable Run

The numbers are in for May, 2024, and President Joe Biden’s economy continues to hum along. The US added 272,000 non-farm jobs, far exceeding expectations of around 190,000. Forbes magazine puts it this way, “The Biden Administration’s robust and durable track record on jobs and unemployment is breaking records, putting up some of the best results we’ve seen in half a century.” The unemployment rate ticked up to 4%, breaking the streak of 27 straight months under 4%, but, continuing to 30 months the streak of 4% or lower unemployment rates, the longest such stretch in 50 years. Additionally, average hourly earnings went up again, 0.4%, for a total of 4.1% over the last 12 months.

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