Today, the Indiana Democratic Party released the following statement from IDP Chairman Mike Schmuhl after the U.S. Department of Labor announced that nonfarm payrolls increased by 209,000 jobs in June, with job creation under the Biden administration now topping 13 million new jobs.
“Today’s strong jobs report is yet another example of the resilient and growing economy that President Biden has built. The Biden boom is helping Hoosiers, with average wages up over the last year accounting for inflation and unemployment holding steady at a 50-year low. This is all on top of the over $14 billion in new private investment and commitments that have flooded into our state because of the Infrastructure and Jobs Act and the Inflation Reduction Act, both of which were supported by Hoosier Democrats.
“President Biden’s focus on rebuilding American manufacturing has achieved tremendous benefits for Hoosiers. The President’s administration is committed to making more things in America, which only grows good job opportunities throughout Indiana. Wages are up, inflation is cooling fast, more people are joining labor unions, and Hoosiers are back to work after the pandemic. Simply put, we need to build on this progress by electing more Hoosier Democrats who are committed to expanding childcare opportunities, and growing investment in the industries of the future.”
Here’s a look at how Bidenomics is delivering across the country:
- The US economy added 209,000 jobs in June, bringing the total job created since President Biden took office to a record 13.2 million jobs – including nearly 800,000 good-paying manufacturing jobs, many of which are in Indiana.
- Private investment in Indiana since 2021 in 21st century industries is over $14 billion – with over $8 billion in EVs and batteries, $4 billion in biomanufacturing, and $2 billion in semiconductors and electronics.
- The unemployment rate has been under 4 percent for 17 months in a row – the longest stretch of low unemployment since the 1960s.
- Wages are growing at one of the fastest rates in years, up 4.4 percent over the past year.
- Annual inflation has fallen for 11 months in a row and is down by more than half since last summer.