President Biden Created as Many Jobs in Two Years as Obama Did in Eight, Is Now Among Top Five Presidents for Job Creation

     I've heard terms like "blowout" related to the January 2023 jobs report, which revealed that America created 517,000 jobs and also saw America's 2022 job growth revised upward by another 500,000 jobs. That translates to one million new American jobs announced last month. However, it wasn't entirely unexpected. In the first three months of 2022, America created almost as many jobs as we did in the rest of the year. Perhaps that's a microeconomic trend emerging out of our recovery from COVID-19. Still, there's another reason it's noteworthy: in spite of all the media talk about a recession, America's labor market continues to boom while inflation continues to ease. Inflation fell during the second half of 2022, and we're on track to see it continue falling in 2023. Economists may be dead-set in their rooting on a recession, but I believe we can avoid one: the continually strong labor market and the higher-than-expected growth in the second half of 2022 make that clear to me.

     If we can avoid a recession, that will be historically good news for America and for President Biden. Last month's jobs report saw America's unemployment rate hit a 55-year low of 3.4 percent: 29 out of 30 Americans who want work have work. Real wages continued to increase. Black and Hispanic unemployment rates are a couple of tenths of percentage points away from hitting record lows of beneath five percent and beneath four percent, respectively. Dozens of states are on track to see their unemployment rates hit record lows during the Biden administration. American manufacturing is experiencing unprecedented growth as supply chains grow stronger than they were before the pandemic. America's had the best two years for small business growth in its history. That's not even the most mind-boggling of what we now know based on the January 2023 jobs report.

     Since taking office, President Biden has created 12 MILLION NEW JOBS. America regained all jobs lost during the COVID pandemic in August 2022, two years earlier than expected; and millions more jobs have been created since then. This is the strongest two years of job growth in American history, and more jobs have been created in the past two years than in any four-year presidential term in U.S. history. During his historic eight-year administration, Barack Obama created an estimated 11.6 million jobs. President Biden has created as many jobs in two years as President Obama did in eight. Not only that, but he is among the top five presidents for job creation in U.S. history who have served for any length of time.

     President Lyndon B. Johnson created 12.2 million jobs during his just over five years in the White House. In another month or two, President Biden should hold the title of the fourth-highest number of jobs created by any one president. Franklin D. Roosevelt and Ronald Reagan created 16.3 million and 16.2 million jobs, respectively, while Bill Clinton holds the record with 23.6 million jobs. If America avoids a recession, President Biden is on track to create more jobs than FDR and Ronald Reagan did in three and two terms, respectively, in ONE SINGLE TERM. This is a record I believe is very possible. If the January 2023 jobs report is any indication, America should have an above-average year for job growth again this year. If he is reelected in 2024, President Biden has a chance to create more jobs than any president in American history.

     2021 and 2022 saw landmark legislation like the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act passed, and 2023 is going to focus on implementing that legislation. I'm optimistic about this year, about 2024, and beyond.