14.8 Million New Jobs Created in US Since 2021

The Facts -

• US Wage Growth -- Highest Rate in this Century
• Unemployment Under 4% for last 2 Years - A 50-Year Record!
• Fastest Wage Growth In Low Wage, Traditionally Disadvantaged Groups.

American Workers See Fastest Wage Growth in Decades

American workers saw the fastest wage growth in decades between 2019 and 2023, with lower-income workers being the most positively affected.

Economic recovery came swiftly following the passing of the American Rescue Plan, with the addition of 14.8 million new jobs since 2021. Unemployment has remained below 4% since the beginning of 2022. And now, GDP and wages have risen even faster than pre-pandemic expectations. With the combination of wage growth and a rise in employment, President Biden has overseen the fastest recession recovery in American history.

The hard work and resilience of American workers cannot be understated either. Low-income workers (the 10th percentile and below) have been the greatest beneficiaries, with average wages rising 12.1% between 2019 and 2023.

For low-wage workers, this is the greatest wage increase since 1979, and double that of any increase in that period. With more and more states instituting a new minimum wage, these increases can be expected to be permanent. President Biden’s appointing of union-friendly members to the National Labor Relations Board makes it easier for workers to form unions and bargain for better wages.

These steps will likely lead to wages for lower and middle-class workers continuing their positive trend over the next decade, creating a future where all our workers are paid what they deserve.

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