PRESS RELEASE: STATEMENT: NO APRIL FOOLS – JOBS REPORT SHOWS BIDEN’S ECONOMIC BOOM CONTINUES

FOR IMMEDIATE RELEASE 
April 1, 2022

Contact: 
Jack Miller, Communications Director
[email protected]

STATEMENT: NO APRIL FOOLS – JOBS REPORT SHOWS BIDEN’S ECONOMIC BOOM CONTINUES

93% of Jobs Lost in Pandemic Have Returned

Nearly 1.7 Million Jobs Added in 2022

Unemployment at 3.6%

WASHINGTON, D.C. — Employers added 431,000 workers in March, according to the jobs report released today by the Labor Department. In 2022 alone, an astonishing 1.68 million jobs have been created and unemployment has dropped to 3.6%. As Heather Long from the Washington Post observed, 93% of jobs lost during the pandemic have returned.

No, this isn’t an April Fools joke – the Biden economy continues to boom.

Invest in America’s senior adviser Zac Petkanas issued the following statement:

“I don’t think we should get tired of saying it – the United States continues to see one of the strongest periods of job growth in history thanks to President Biden’s American Rescue Plan and the Bipartisan Infrastructure Law. More than 90 percent of jobs lost in the pandemic have returned and unemployment is at historic lows. There should be no doubt that President Biden’s agenda is exceeding all expectations.

Yet despite these gains, there is still work to be done to allow more workers to rejoin the workforce. Congress must act on the President’s agenda to further lower costs for middle class families by making child care more affordable, lowering the prices for prescription drugs, investing in clean energy, and more.”

The investments in President Biden’s agenda will lower costs and cut taxes for working families. 

  • President Biden’s agenda will lower costs for working people:  

    • It will lower child care costs — which cost parents $30-35 billion in income before the pandemic. Access to affordable child care could increase the lifetime earnings for women with children by nearly $100,000.

    • It will lower the cost of long term care, expanding access to affordable home care to hundreds of thousands of Americans.

    • It will lower energy costs, saving the average American family $500 per year by investing in clean energy.

    • It will lower health care costs and premiums for those buying coverage through the ACA by extending the American Rescue Plan’s cost saving premium tax credits; adding hearing coverage to Medicare; and closing the Medicaid gap for low-income Americans.

    • It will lower prescription drug costs for Americans by letting Medicare negotiate drug prices, so consumers are no longer at the whim of pharmaceutical companies.

    • It will lower taxes for low-and-moderate-income workers by extending the American Rescue Plan’s Earned Income Tax Credit to millions.

    • It will lower education costs by expanding Pell grants and making universal preschool a reality.

    • It will lower housing costs by creating more than one million new affordable homes in rural and urban areas.
  • President Biden’s agenda will lower taxes for middle class families: 

    • It will expand the Child Tax Credit, lowering taxes for middle class families by providing 39 million households and nearly 90% of children in the U.S. a major tax cut and cutting the child poverty rate in half.

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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