Democrats’ American Rescue Plan Delivers Strong June Jobs Report, Plummeting Jobless Claims, & Skyrocketing Consumer Confidence

Thanks to Senate Democrats and President Biden’s American Rescue Plan, the U.S. economy continues to rebound and show promising signs of a robust recovery:

• Today’s jobs report was the latest sign of a “powerful rebound from the pandemic recession.” Employers added 850,000 jobs in June “to keep up with a rapidly recovering U.S. economy.” The increase in jobs was “the strongest gain in 10 months” and further evidence that “the labor market’s recovery is gaining momentum.” 

• Joblessness rates have “plummeted” as unemployment numbers hit a “new pandemic low” this week and initial unemployment insurance filings “fell sharply last week, indicating continued improvement in the U.S. jobs market.”

• The Congressional Budget Office released a new report Thursday estimating that economic growth in 2021 will reach 7.4%  –– “the fastest calendar-year expansion since 1984.” The CBO credited the strong growth to Democrats’ passage of Covid-19 relief which lifted their previous economic forecasts and amended their earlier predictions. Now the CBO “sees life returning to normal sooner than it did in February” and predicted “that the economy was on track to recover all the jobs lost in the pandemic by the middle of next year.”

• And consumer confidence hit “its highest level in nearly 1-1/2 years” and “Americans’ confidence in the economic outlook has nearly fully recovered.”

Reminder: Every single Senate Republican is on the record voting against the plan that put money in people’s pockets, expanded vaccine access, and rescued our struggling restaurants and small businesses.

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