September 9, 2021/Media, Press

Jobless Claims Continue to Fall Under President Biden’s Leadership

Weekly jobless claims in North Carolina have continued to decline almost every week since President Biden has taken office

The U.S. economy, including in North Carolina, is bouncing back after the coronavirus under President Biden’s leadership. While there’s more work to be done, the Biden-Harris administration is taking deliberate steps to create jobs and decrease jobless claims to spur economic growth in North Carolina and across the country.

Where We’re At: 

  • This morning, the Associated Press reported that U.S. jobless claims fell to 310,000, “a pandemic low and a sign of strength for a still-rebounding economy.” 
  • Nearly every week since President Biden took office, jobless claims in North Carolina have remained on a “downwards trend.
  • The latest state jobs report from July found that North Carolina added 75,600 jobs and was reported to be in the top three states with the largest job gains.
  • The July state jobs report found that North Carolina’s unemployment rate also continues to decline, decreasing from 4.6 percent in June to 4.4 percent in July.
How We Got Here:
  • Just 50 days into taking office, President Biden and Democrats passed the American Rescue Plan, a historic bill to provide the American people relief from COVID-19, that included specific steps to reboot the nation’s economy.
    • Through the American Rescue Plan, middle-class families of nearly 2 million children in North Carolina started receiving a major tax cut. These tax cuts have given families breathing room to put food on the table, pay for school supplies, splurge for tutoring and other parenting-associated costs.
      • CNBC reported that the expanded Child Tax Credit included in President Biden and Democrats’ American Rescue Plan has reduced financial anxiety for 56% of American families in one month alone.
  • Through the American Rescue Plan’s efforts to get shots in arms across the country, small business owners in North Carolina have seen “booming business” throughout the summer.
    • WWAY“The summer season for vacation rentals has just absolutely been record breaking. I think everybody had just been cooped up from the pandemic and wanted to travel locally, which we very much appreciated. As far as expectations for labor day weekend. We’re going to be full, we’re blessed for that,” said Dara Newberry, Shell Island Resort General Manager. 
  • Through the American Rescue Plan, $1,400 checks were sent to single people making less than $75,000, heads of household making less than $112,500, and married couples filing jointly making less than $150,000.