PRESS RELEASE: STATEMENT: NEW LOW IN JOBLESS CLAIMS PROVES PUBLIC INVESTMENT WORKS, BUILD BACK BETTER AGENDA NEEDED TO BUILD ON PROGRESS
FOR IMMEDIATE RELEASE
July 15, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
STATEMENT: NEW LOW IN JOBLESS CLAIMS PROVES PUBLIC INVESTMENT WORKS, BUILD BACK BETTER AGENDA NEEDED TO BUILD ON PROGRESS
Per International Monetary Fund, the American Jobs and Families Plans Would Raise U.S. Economic Growth Projection to 7%
POLLING: 62% of Voters, Including a Majority of Independents, Support Passing the Investments in the American Jobs and Families Plans Together Through Reconciliation
WASHINGTON, D.C. — Jobless claims hit another pandemic low last week as 360,000 Americans filed for unemployment benefits, according to the latest data from the Bureau of Labor Statistics. While the steady decline in jobless claims serves as proof of the nation’s economic recovery thanks to the American Rescue Plan, millions of unemployed Americans are still counting on the public investments in the American Jobs and Families Plans.
Invest In America’s spokesperson Maddy McDaniel issued the following statement:
“People across the country are feeling the benefits of the American Rescue Plan’s public investment as they get vaccinated and return to work. Finally, the U.S. economy is back on track, with wages going up, consumer confidence up, and personal income increasing.
“These economic gains should light the path forward as millions of Americans wait for the public investments in the Build Back Better agenda — which are set to boost U.S. economic growth to 7 percent, create millions of jobs, and address longstanding inequities in our economy.
“Now is not the time to pump the brakes on public investment. It’s time to go all in on job-creating investments in clean energy, caregiving, and education to improve the lives of middle class Americans and position the U.S. to lead in a global economy.”
Thanks to the public investment in the American Rescue Plan, there are signs of strength across the economy:
In Q1, GDP rose in all 50 states and DC, as real GDP for the nation increased at an annual rate of 6.4%
Personal income rose at a rate of 59.7% in the first three months of 2021
The economy has gained 3 million jobs since January 2021.
Last month, the World Bank doubled its January projections of US GDP growth from 3.5% to 6.8% thanks to the public investments in the American Rescue Plan
Economists are available to discuss the implications of this week’s jobless claims — reach out to [email protected] to get in touch.
About Invest in America
Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.
The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.