New today: Unemployment insurance claims are at the lowest they have been since March 2020 and the 4 week average continues to trend downward. That’s great news.
*Also* new today: A new report from the CBO confirms that the Biden economic plan is working. In February, CBO projected 2021 economic growth of 3.7%. Today, they doubled that number to 7.4%. The IMF also increased its 2021 growth forecast for the U.S. today to 7%. That’s huge.
In the last 4 months, the economy has created over 2 million jobs – offering many Americans the opportunity to get back to work after the pandemic.
This time last year, our GDP growth was negative.
Our GDP growth rate was over 6% since in the first quarter – 2021 is on track for the fastest growth in nearly 40 years.
Yesterday we learned that in all 389 metro areas in the U.S., unemployment rates are lower than they were this time last year – and payroll jobs are up in 275 of those areas. We also saw personal income rise nearly 60% in the quarter one of 2021 thanks largely to the Rescue Plan.
Thanks to the President’s Rescue Plan and a whole-of-government vaccination strategy, Americans have been able to get back to work and back to living their lives.
Since last June, restaurant, bars and other businesses have increased sales by nearly $17B.
The Biden economy is booming because since day one, the President has focused on jump starting our economy, getting Americans back to work, and rebuilding our economy from the bottom up and the middle out. Because of this — consumers are feeling more confident about our economy.
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The Presidential Medal of Freedom is the nation’s highest civilian honor – presented to individuals who have made exemplary contributions to the prosperity, values, or security of the United States, world peace, or other significant societal, public or private endeavors.
This week, President Biden presented these awards to nineteen individuals.
Here are their stories:
Mayor Michael Bloomberg is an entrepreneur, philanthropist, and three-term mayor. He revolutionized the financial information industry and transformed New York City’s education, environment, public health, and the arts.
Father Greg Boyle is a Jesuit Catholic priest who is the founder and director of Homeboy Industries, the world’s largest gang-intervention and rehabilitation program. He has helped thousands of Angelenos turn their lives around.
Care workers and caregivers are critical to our nation’s families and our entire economy. Our Administration will keep working to lower costs for families for care and boost supports for care workers and caregivers.
This morning, President Biden convened senior members of his team for a briefing on the ongoing response to the collapse of the Francis Scott Key Bridge.
During the briefing, President Biden directed his team to ensure all federal resources be made available to assist in the ongoing search and rescue efforts and response to this incident.
President Biden also spoke with Governor Moore, Mayor Scott, County Executive Olszewski, both U.S. Senators, the Congressman, and Secretary Buttigieg. He told them we will send any federal resource they need as we respond to this emergency and rebuild together.
The U.S. Coast Guard is leading the response at the port, where representatives from the Federal Highway Administration, the FBI, the Department of Transportation, and the Army Corps of Engineers – as well as Maryland officials and Baltimore Police and Fire – are working together to coordinate the emergency response.
President Biden spoke with Prime Minister Netanyahu today about the latest developments in Israel and Gaza, including Israel’s military operations, increasing humanitarian assistance going to Gaza, and efforts to bring hostages home.
@POTUS emphasized his commitment to ensuring the long-term security of Israel and affirmed that Israel has a right to go after Hamas.
At the same time, a humanitarian crisis has descended across Gaza. More innocent civilians have died in this military operation than in all previous wars in Gaza combined.
President Biden explained why he is alarmed at the prospect of Israel conducting a major military operation in Rafah, where more than a million Palestinians have taken refuge.
He rejected the strawman argument that raising questions about Rafah is equivalent to raising questions about defeating Hamas.
Hamas should not be allowed a safe haven anywhere. But a major ground operation there would be a mistake.
The key goals Israel wants to achieve can be done by other means.
President Biden asked Prime Minister Netanyahu to send a senior team composed of military, intelligence, and humanitarian officials to Washington to discuss an alternative approach that would target Hamas in Rafah and secure the Egypt-Gaza border without a major ground invasion.
This year, President Biden crisscrossed the globe to strengthen America’s alliances and partnerships so we can tackle the shared challenges we face.
Here’s a 2023 travel recap. ✈️
🗓️January
President Biden met with President Andrés Manuel López Obrador and Prime Minister Justin Trudeau in Mexico City for the 10th North American Leaders’ Summit. The leaders discussed working together to strengthen our region’s security, prosperity, and sustainability.
🗓️February
President Biden made a surprise trip to Kyiv to reaffirm the United States’ unwavering commitment to Ukraine’s democracy, sovereignty, and territorial integrity.
After, @POTUS traveled to Poland to meet with the Bucharest Nine nations.