Democrats’ Economic Agenda Is Working: Economy Continues to Rebound as Nearly a Million Jobs Are Added, Unemployment Rate Drops and Retail Sales Climb

A series of new reports this week confirm that Democrats’ economic agenda is working. Thanks to Senate Democrats’ passage of President Biden’s American Rescue Plan, the U.S. economy continues to rebound and show promising signs of a robust recovery:

• July’s Jobs Report published Friday by the Department of Labor revealed that “hiring rose in July at its fastest pace in nearly a year.” U.S. employers added 943,000 jobs in July and the unemployment rate dropped to 5.4%. In one economist’s words: “this not only was a strong jobs report by nearly every measure, it also signals more good things to come.”

• Jobless claims hit a “new pandemic-era low” this week –– “more evidence that the economy and the job market are rebounding briskly from the coronavirus recession.”

• And a new report from MasterCard found that Democrats’ middle class tax cut “help[ed] lift U.S. retail sales growth to 10.9%” last month––“nearly quadruple the average growth in the month of July.”

Reminder: Every single Senate Republican voted 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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