🧵Biden's economic records indicating a massive boom underway, from those working full-time to corporate profits, with graphs and links to definitive sources. #BidenBoom
The number of people working full-time hit the all-time record in March 2022. 1/
fred.stlouisfed.org/series/LNS1250…
Real (inflation-adjusted) GDP hit record level in Q4 '21, after regaining the pre-pandemic peak in Q2 '21. This measures the size of the economy for both production and income. 2/
fred.stlouisfed.org/series/GDPC1
Americans are the richest ever measured by net worth, which reached $150 trillion for the first time in Q4 '21. This was due to stock and housing booms. 3/
fred.stlouisfed.org/series/TNWBSHNO
The number of job openings hit a record 11.5 million in March 2022, another sign of the booming labor market and immigration restriction. There are about 2 open jobs per unemployed person, also a record. 4/
fred.stlouisfed.org/series/JTSJOL
The stock market (S&P 500) reached an all-time record 4,797 on January 3, 2022. Inheriting a near-record stock market level, Biden still set the presidential record of a 37% return measured for his first year from election, with a peak of +42%. 5/
fred.stlouisfed.org/series/SP500
Housing prices, as measured by the median sales price of houses sold, reached an all-time record of $428,700 in Q1 '22, a nearly $70,000 or 20% gain from Q4' 20. About 65% of American households own the home they live in. 6/
fred.stlouisfed.org/series/MSPUS
A record few persons are receiving unemployment compensation, with the share of the labor force at an all-time low of 0.86% in April 2022. This is yet another sign of a very hot labor market. 7/
fred.stlouisfed.org/graph/?graph_i…
The federal budget deficit is falling at a record pace, and not just because pandemic spending programs are ending. Revenues are up enormously, nearly $1 trillion versus fiscal year 2019 pre-pandemic, due to high incomes and economic activity. 8/
cbo.gov/publication/57…
Corporate profits are about 40% above pre-pandemic levels, reaching an all-time record of $2.7 trillion in Q4 '21. Democrats appear to be good for business! 9/END
fred.stlouisfed.org/series/CP
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