Democratic Party of Wisconsin on Falling Inflation
MADISON, Wis. — Democratic Party of Wisconsin Communications Director Joe Oslund released the following statement today after the U.S. Department of Labor announced that annual inflation has fallen to 3.1 percent:
“MAGA Republicans like Donald Trump, on the other hand, continue to push failed trickle-down policies that would roll back President Biden’s transformative progress for America’s middle class. As the GOP continues to put the pocketbooks of the ultra-wealthy and big corporations ahead of Wisconsin families, President Biden, Vice President Harris, and Democrats remain focused on building our economy from the bottom up and the middle out.”
Here’s a look at how Bidenomics is delivering in Wisconsin and across the country:
- Core inflation has fallen to its lowest level in two years, and overall inflation is down by two thirds from its peak.
- The US economy added 199,000 jobs in November — bringing the total number of jobs created since President Biden took office to a record 14.1 million.
- A huge manufacturing boom has spurred more than $628 billion in private sector investments and created 815,000 manufacturing jobs, and another 830,000 in construction and engineering — more than at any point under the last administration.
- The unemployment rate has been under four percent for the longest stretch in 50 years, with record lows reached in Wisconsin this year.
- The share of prime working-age Americans in the workforce is at its highest level in over 20 years.
- All jobs lost during the pandemic have been regained, including an additional 4 million created.
- Wages are increasing at a 4.0 percent annual rate.
- Annual inflation is down by more than half since last summer.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.