The Economic Recovery Is on the Right Track
According to the Labor Department’s monthly report released today, the economy added 210,000 jobs in November.
This month’s report adds to the bigger picture of what’s going on in our economy. And beyond a single headline number, the positive trends in 2021 are clear: The economic recovery is making life better for working-class Americans, and this is driven by policies like the American Rescue Plan and other federal stimulus.
Total job growth in 2021 has been high, with more than 6.1 million jobs added so far this year—making this recovery one of the fastest in decades. And this month, unemployment dropped to 4.2 percent—three years faster than predicted by experts.
Wages and salaries have also increased—particularly for lower-income workers and when adjusted for inflation—as has household wealth.
And greater wealth and increased opportunities have given workers more power in the workplace, allowing them to search for new jobs and to demand better wages and working conditions.
There is still more work to be done. But it’s important to acknowledge the progress we have made, and the real improvements these policies have made to Americans’ daily lives.
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