Under President Biden, the economy has created more jobs per month than under any other President – EVER!

Local Economic Update:

• Unemployment rate fell to 3.% in Transylvania County in November, last year in 2020 (Under Trump) it was 5.1%

• Business optimism in North Carolina is HIGH.

• Almost half of businesses expect business conditions to improve in the next six months.

• Many plan increase wages and training for their workers, and technology investments.

• The majority plan to increase staffing levels.

• The majority said they are meeting or exceeding revenue goals.

• Republicans are NOT being honest about the economy!

In 2021, the Biden-Harris administration got our country and North Carolina’s economy back on track:

The unemployment rate fell to a historically low level of 3.9%, which is the largest calendar year decrease in unemployment in history.

1. 6.4 million jobs were created, more jobs than any other President.

2. Our country saw the largest yearly increase in labor force participation since 1996.

3. The Biden-Harris administration dramatically reduced hunger and child poverty, worker wages rose, and our economy rebounded faster than anyone predicted.

4. An average of 537,000 jobs were created per month.

5. Applications for new small businesses are up by 30% from before the pandemic.

Transylvania County’s jobless rate in November was 3%, down from 3.2% the previous month, according to the latest figures from the N.C. Department of Commerce.

The local jobless numbers only take into account those who qualify for unemployment benefits and have not been seasonally adjusted, according to the state.

In November 2020, the county’s unemployment rate was 5.1% and the state’s was 6.3%. https://www.transylvaniatimes.com/news/latest-county-jobless-rate-stands-at-3/article_1d64eb8a-6a55-11ec-b07f-0ff32fde07c5.html

Businesses across North Carolina participated in a survey in the Fall and the results were covered in The Transylvania Times.

Survey Finds Business Optimism Is High

The majority of respondents to a rolling survey of North Carolina businesses launched in October expressed optimism for the future of their businesses and reported they were meeting or exceeding revenue goals, according to preliminary results from the state’s new Business Pulse Survey. https://www.transylvaniatimes.com/news/survey-finds-business-optimism-is-high/article_33a14400-675f-11ec-86cd-dfed6d86e552.html

The unemployment rate fell to 3.9% in December, according to Labor Department data released Friday. That represented a drop of 2.8 percentage points over the course of 2021, the best annual improvement on record. Early last year, economists anticipated the unemployment rate to end 2021 at 5.5%.

2021 was a Record Year: The U.S. added the most jobs on record in 2021 after pandemic losses

After shedding more than 22 million jobs at the start of the pandemic, the widespread availability of vaccines in early 2021 supported a bounce back in demand for services as pandemic-weary consumers ramped up spending on travel and dining out. And excess savings, fueled in part by the Democrats’ $1.9 trillion stimulus bill in March, bolstered demand for goods. https://www.bloomberg.com/news/articles/2022-01-07/u-s-sees-record-job-growth-in-2021-after-millions-lost-in-2020

This is yet another example and wake up call to constant downplaying, misinformation and flat out lies by Republicans.