NEW: Latest Jobs Report Shows “One of the Strongest Labor Markets in US History” Under Biden-Harris as Trump Threatens Growth Arrow

In response to today's December jobs report, DNC Rapid Response Spokesperson Aida Ross released the following statement:

"The American economy ended 2024 'with a bang' thanks to the Biden-Harris administration, adding over 250,000 new jobs and lowering unemployment to continue one of the strongest labor markets in U.S. history. Now, Donald Trump is gearing up to tank this progress by giving tax handouts to the ultra-rich and big corporations, shipping jobs overseas, and pushing an expensive agenda that economists warn will 'reignite inflation.' Democrats will build on the Biden-Harris administration's progress - and fight back every day against Trump's disastrous agenda to drag us backwards."

NEW: Thanks to the Biden-Harris administration, the economy ended 2024 "with a bang," adding 256,000 jobs in December - the 48th month in a row of net job creation - and maintaining record-low unemployment.

CNN: "One of the strongest labor markets in US history just ended 2024 with a bang"

"The US economy closed out 2024 with another month of massive job growth, adding 256,000 positions in December.

"The unemployment rate dipped to 4.1% from 4.2%, wrapping up a year that marked a return to pre-pandemic norms, according to Bureau of Labor Statistics data released Friday.

"While the final jobs report for 2024 underscores how the US labor market has turned the corner since the pandemic, there's plenty of uncertainty as to what 2025 could bring for the trajectory of the labor market - in part because of President-elect Donald Trump's potential policy changes involving trade, immigration, taxes and the federal workforce.

"Including December's gains, which are subject to revision, the economy added about 2.2 million jobs in 2024, an average of 186,000 jobs per month. …

"The US has now added jobs for 48 months in a row, tying the second-longest period of employment expansion on record."

Washington Post: "The U.S. labor market added 256,000 jobs in December, a strong showing at the end of 2024, as the labor market revved up toward the end of the year. …

"The report provides a rosy picture of the labor market days before President-elect Donald Trump enters the White House. Trump spent much of the campaign season lambasting the Biden-era economy, although a powerful labor market remains one of President Joe Biden's strongest legacies.

"Biden trumpeted the final jobs report of his presidency, noting that his is the 'only administration in history to have created jobs every single month,' despite inheriting a labor market ravaged by the pandemic."

Trump's unaffordable and unpopular agenda will "dampen economic growth" made under the Biden-Harris administration.

New York Times: "[B]y many traditional metrics, the America that Mr. Trump will inherit from President Biden when he takes the oath for a second time, two weeks from Monday, is actually in better shape than that bequeathed to any newly elected president since George W. Bush came into office in 2001. …

"Jobs are up, wages are rising and the economy is growing as fast as it did during Mr. Trump's presidency. Unemployment is as low as it was just before the Covid-19 pandemic and near its historic best. Domestic energy production is higher than it has ever been.

"The manufacturing sector has more jobs than under any president since Mr. Bush. …

"Mr. Trump instead will have more latitude to pursue favored policies like mass deportation of undocumented immigrants or tariffs on foreign imported goods. And if past is prologue, he may eventually begin extolling the state of the economy to claim successes for his policies. …

"On the contrary, Mr. Trump faces the risk that the economy goes in the other direction. Some specialists have warned that a tariff-driven trade war with major economic partners could, for instance, reignite inflation."

Bloomberg: "Bond traders are entering the new year with fresh worries about inflation and the presidency of Donald Trump. …

"There's $119 billion of government debt issuance coming this week, and growing concern that Republicans will drive up spending and widen the budget deficit. Trump has urged Congress to move rapidly on a bill to extend the 2017 tax cuts."

USA Today: "The U.S. economy and job market are expected to cool in 2025 but still turn in another year of solid growth as inflation eases further, forecasters say.

"But as a result of President-elect Donald Trump's dueling policy agendas, the outlook is leavened with an unusual dose of uncertainty.

"Trump's plans to impose massive tariffs and deport millions of immigrants who lack permanent legal status are likely to reignite inflation and dampen economic growth, according to forecasters."

REMINDER: Trump owns the worst jobs record in modern American history…

Fortune: "Trump to leave office with the worst jobs record since Herbert Hoover"

Washington Post: "President Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative."

Bloomberg: "Trump's Jobs Record Fell Short of Promises Even Before the Virus"

… and spent his first term giving massive tax handouts to the ultra-wealthy at the expense of working families and creating new incentives for companies to ship jobs overseas.

Forbes: "Trump Tax Cuts Helped Billionaires Pay Less Taxes Than The Working Class In 2018"

Washington Post: "For the first time in history, U.S. billionaires paid a lower tax rate than the working class last year"

CBS News: "Two years after Trump tax cuts, middle-class Americans are falling behind"

Washington Post Analysis: "One of President Donald Trump's lesser-known but profoundly damaging legacies will be the explosive rise in the national debt that occurred on his watch. The financial burden that he's inflicted on our government will wreak havoc for decades, saddling our kids and grandkids with debt. The national debt has risen by almost $7.8 trillion during Trump's time in office. …

"The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center."

Washington Post: "Trump promised 'America First' would keep jobs here. But the tax plan might push them overseas."

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