Since President Biden has been in office, North Carolina’s economy has continued to improve
Following a downturn throughout the coronavirus pandemic, the United States’ economy, including in North Carolina, is bouncing back thanks to President Biden’s economic plan.
Experts and Americans across party lines credit President Biden and Democrats’ for passing the American Rescue Plan to deliver federal funds that have resulted in a speedy economic recovery. A recent poll by ABC/Ipsos shows and the majority of Americans approve of President Biden’s handling of the economy.
The New York Times also recently credited President Biden’s handling of the economy: “The economy’s rebound this year has been stronger than almost anyone predicted last winter, a result of the initial wave of vaccinations and the boost from Mr. Biden’s stimulus bill.”
“From the moment he took office, President Biden rolled up his sleeves and got to work addressing our country’s economic crisis by passing the American Rescue Plan, aiding a speedy economic recovery. Today in North Carolina under the President’s leadership, jobs have been created, unemployment claims continue to fall and working families are receiving a tax cut — directly resulting in the U.S. economy growing at the fastest rate in nearly 40 years. President Biden’s economic plan is working and Americans across party lines approve,” said NCDP Spokesperson Ellie Dougherty.
Since President Biden has taken office:
- The economy has grown at a 6.5% annualized rate so far this year — far higher than forecasters had predicted at the end of last year.
- North Carolina’s unemployment rate continues to decline, decreasing from 4.6 percent in June to 4.4 percent in July.
- More than 4 million jobs have been created, including 75,600 in North Carolina just in July alone.
- Middle-class families of nearly 2 million children in North Carolina are receiving a major tax cut.