The White House

This week, President Biden and First Lady Jill Biden hosted the White House Classroom to Career Summit, joined by students, apprentices, K-12 leaders, community college presidents, unions, employers, and philanthropies to highlight the Administration's record progress to train and connect Americans to good-paying jobs. This Summit took place nearly fifteen years after Dr. Biden led the first-ever White House Summit on Community Colleges as Second Lady, where she set the path forward for community colleges to be a critical part of America’s economic vision for the future. Today, 34 states and Washington, D.C., now offer tuition-free community college and job training programs. And at the Summit, President Biden announced that more than $80 billion from his American Rescue Plan has now been committed toward strengthening and expanding our workforce. The Biden-Harris Administration is working to bridge the gap between what students learn and the careers they can enter.

Critics said that inflation could only come down by triggering a recession. But not only is inflation near its 2% target, but it got there while the economy has continued to grow, with 16 million jobs created and the lowest average unemployment in 50 years. In addition, nearly 20 million new business applications have been filed since the start of our Administration. That's nearly 20 million acts of hope and confidence in what's being called the strongest economy in the world. President Biden and Vice President Harris know that strong economies aren’t built from the top down – they’re built from the bottom up, and the middle out.

We learned today that the U.S. economy grew at a rate of 2.8% in the third quarter, and as CNN said this morning, the economy "seems to have pulled off a remarkable and historic achievement." Since President Biden took office:   - We've had the lowest average unemployment in 50 years - 16 million jobs have been created - Inflation has fallen to 2.4% — its level right before the pandemic - Incomes have risen nearly $4,000, accounting for inflation   There's more work to do, and the Biden-Harris Administration is fighting every day to lower costs on the everyday expenses like housing, groceries, health care and child care. As President Biden has said: The best way to grow the economy is from the middle out and the bottom up, not the top down.

When our Administration first took office, America faced the worst economic crisis since the Great Depression. Now, thanks to President Biden's and Vice President Harris’ leadership, we have the strongest economy in the world. Don’t just take our word for it: - Last month, 254,000 jobs were created, blowing away expectations and continuing a historic record of job growth - Inflation has continued to come down to 2.4% — the same level as right before the pandemic - Borrowing costs are coming down as well, making it more affordable for families to buy a home or a car, and for entrepreneurs who have filed a record 19 million new business applications - And this week, the stock market reached another all-time high on the back of strong business investments and consumer spending, made possible by higher wage gains for workers All resulting in the strongest economy in the world, thanks to President Biden and Vice President Harris.

Since before Hurricane Helene made landfall, the Biden-Harris Administration has employed a whole-of-government approach in support of those in the wake of Helene, and now Hurricane Milton, with response from FEMA, the Federal Communications Commission, the Small Business Administration, the National Guard, the Army Corps of Engineers, the Department of Transportation, and more. Thousands of federal personnel, including active duty troops, have been deployed across the Southeast and Appalachia, supporting actions like debris removal and helping survivors apply for financial assistance from FEMA. In addition, the Administration and its agencies have made use of digital platforms to correct the record on the federal response, such as resources on the ground, the amount of FEMA assistance available to survivors, and FEMA's role in supporting survivors. Our Administration will continue to do whatever it takes to support those affected by Hurricanes Helene and Milton, and we will be with you every step of the way, no matter how long it takes.

We think our Administration's accomplishments speak for themselves. Initiatives and policies like:   - The Inflation Reduction Act, which lowered costs for prescription drugs, health care, and utility bills, and made the largest climate investment in history - The American Rescue Plan, which supported workers, families, and entrepreneurs during the pandemic, including funding to keep small businesses open - Enacting a corporate minimum tax, ensuring that billion-dollar corporations aren't paying $0 in federal income tax and leveling the playing field for small businesses   Leading to results like: - Nearly 16 million jobs created, including hundreds of thousands of jobs in industries of the future like clean energy - 19 million new business applications, driving a small business boom - Investments in the IRS to improve service for taxpayers and ensure wealthy tax cheats pay their fair share, already resulting in more than $1 billion in owed taxes recovered    And that’s just the start. Visit wh.gov/TheRecord to see for yourself.

The Biden-Harris Administration came to office determined to rescue the economy from the worst economic crisis since the Great Depression and to transform the way our economy works over the long-term – spurring growth from the middle out and the bottom up, not the top down.   As President Biden told the Economic Club of Washington, D.C., the Fed's decision this week to lower rates isn't a declaration of victory – it’s a declaration of progress. It’s a signal we’ve entered a new phase of our economy and our recovery.   Inflation has come down faster and is lower than almost any other of the world's advanced economies. And we’ve taking action to lower costs for all Americans including: • Unleashing record energy production to lower gas prices, reaching their lowest price since the start of Putin’s invasion • Fixing broken supply chains by bringing labor and business together, and strengthening them through investments in infrastructure and manufacturing • Lowering prescription drug costs for millions of Americans by beating Big Pharma and allowing Medicare to negotiate lower drug prices   Now, interest rates are falling, which is good news for consumers, businesses, and workers. It means the cost of buying a home or car will go down, it will be easier to start a new business, and so much more. This builds on an already historic recovery, including nearly 16 million jobs created and a small business boom, with a record 19 million new business applications.   There's still more work to do, and President Biden and Vice President Harris will continue to work to lower costs and grow our economy.

President Biden has always believed that a job is about a lot more than a paycheck – it's about dignity and respect. He is fighting for an economy with good jobs that you can raise a family on, that you can get without leaving your hometown or without a college degree. And yesterday, President Biden reaffirmed this commitment by signing an Executive Order to help ensure that the government promotes good, high-quality jobs with paths to the middle class. The Executive Order calls on federal agencies to protect the power of workers, to prioritize projects that pay wages you can raise a family on, and to strengthen equitable pipelines to good jobs. That's in addition to record job growth, falling inflation, rising wages, and a record rate of small business openings – millions of acts of hope and confidence in the economy. America is winning, thanks to the American worker.

Last week, President Biden welcomed over 100 leaders in the digital creator economy to the first-ever White House Creator Economy Conference to discuss the most pressing issues facing the digital landscape today. Joined by President Biden and Administration officials such as Director of the Office of Science and Technology Policy Arati Prabhakar, Domestic Policy Advisor Neera Tanden, Deputy Secretary of the Treasury Wally Adeyemo, and Press Secretary Karine Jean-Pierre, the group discussed issues such as fair pay, AI, mental health, and more. The Conference fostered conversation between creators and executives in the digital space and provided attendees with the opportunity to make their voices heard by Administration officials. But creators don’t just embody innovation and a breakthrough in how we communicate – they’re also a major share of the global economy. For example, it’s estimated that the creator economy supports hundreds of thousands of jobs in the United States. And with a combined following of 110 million, the creators who took part are at the forefront of an evolving information landscape. As President Biden said to the creators, “You break through. You break through in ways that I think are going to change the entire dynamic of the way in which we communicate.” The Biden-Harris Administration will continue to work with creators to understand the unique needs of the creator community, show our appreciation for their partnership, and reach voters where they are.