President’s statement on jobless claims and manufacturing progress

0

Today we received more data that America is on the move despite the global challenges we face. Unemployment benefits are at an all-time low. Since I took office, the number of Americans on unemployment benefits has fallen by 95%, and our economy has created 8.3 million jobs

And as we make the transition from an historic job recovery to steady, resilient economic growth, companies are investing in manufacturing in America — to strengthen supply chains, lower costs for working families, and secure our energy independence. During my first year in office, the US economy added more manufacturing jobs per month on average than any other president in the last 50 years. Two new announcements today will add to this historic production boom. Ford’s $3.7 billion investment to create more than 6,000 high-paying union jobs in Michigan, Ohio and Missouri building new electric vehicles is great news for American workers. Stellantis’ agreement to purchase up to 25,000 metric tons per year of lithium produced by CTR from geothermal brine in Imperial County, California puts the US on track to become a leading producer of sustainably sourced, low-carbon lithium. This builds on announced investments by dozens of companies over the past year, from Intel’s $20 billion investment building semiconductors in America to Tesla, America’s largest maker of electric vehicles.

This is no coincidence – it is the result of my economic plan to grow the economy from the bottom up and in the middle. My bipartisan infrastructure bill was a big step forward in making America a place where businesses invest and good jobs grow, including our national EV charging infrastructure and battery supply chain. I urge Congress to continue this transition toward steady and stable economic growth that benefits all Americans, to expand and expand incentives for clean vehicles, chargers, batteries and semiconductors, and to pass the bipartisan Innovation Act to drive even more domestic manufacturing support financially.

###

Share.

Comments are closed.