The unemployment rate has been below 4% for 16 straight months, or at 4% or below for 18 months. But Biden’s 50-year timeframe excludes two longer stretches when unemployment was below 4%.
boasted that the unemployment rate during much of his tenure has been below 4%, which is considered a strong achievement by historical standards.
For the period under Biden, the unemployment rate fell to 3.9% in December 2021, then popped back up briefly to 4% in January 2022, and then fell to 3.8% in February 2022. It has remained below 4% ever since, through the last published month, May 2023. The most recent period that can compete with that record occurred under Biden’s predecessor, Donald Trump.
Biden also benefits by cutting off the comparison at 50 years, or 1973. Using this time frame excludes two periods in which unemployment was low for even longer stretches.
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