Presidents › Joe Biden
The economy under Joe Biden
26 official measures, each from the first month in office (2021) to month 48, ranked against every other administration at the same point.
| Measure | Month 1 | Latest / month 48 | Change | Rank at that point | Source |
|---|---|---|---|---|---|
| GDP Growth | 6.2% | 2.4% (m48) | −3.8 pts | #8 of 9 | Bureau of Economic Analysis |
| Real GDP | $21.1T | $23.6T (m48) | +12.0% | #3 of 9 | Bureau of Economic Analysis |
| Unemployment Rate | 6.4% | 4.1% (m48) | −2.3 pts | #1 of 9 | Bureau of Labor Statistics |
| Labor Force Participation | 61.4% | 62.5% (m48) | +1.1 pts | #7 of 9 | Bureau of Labor Statistics |
| Jobs Added per Month | 315K | 237K (m48) | −24.8% | #3 of 9 | Bureau of Labor Statistics |
| Manufacturing Jobs | 12.1M | 12.7M (m48) | +4.5% | #2 of 9 | Bureau of Labor Statistics |
| Inflation (CPI) | 1.4% | 2.9% (m48) | +1.5 pts | #3 of 9 | Bureau of Labor Statistics |
| Core Inflation | 1.4% | 3.2% (m48) | +1.8 pts | #6 of 9 | Bureau of Labor Statistics |
| Gas Prices | $2.24 | $2.93 (m48) | +30.8% | #4 of 5 | Energy Information Administration |
| Real Wages | 1.6% | 1.4% (m48) | −0.3 pts | #2 of 8 | Bureau of Labor Statistics |
| Purchasing Power of the Dollar | $13.59 | $11.24 (m48) | −17.3% | #7 of 9 | Bureau of Labor Statistics |
| Federal Funds Rate | 0.1% | 4.5% (m48) | +4.4 pts | #5 of 9 | Federal Reserve |
| Debt-to-GDP | 123.9% | 121.0% (m48) | −2.9 pts | #8 of 9 | U.S. Treasury and OMB |
| Trade Balance | −$61B | −$97B (m48) | −57.7% | #3 of 5 | Census Bureau and BEA |
| 30-Year Mortgage Rate | 2.6% | 6.7% (m48) | +4.0 pts | #4 of 9 | Freddie Mac |
| Housing Starts | 1,624K | 1,494K (m48) | −8.0% | #5 of 9 | Census Bureau |
| Retail Sales | $560B | $692B (m48) | +23.6% | #2 of 5 | Census Bureau |
| Job Openings | 7.2M | 7.3M (m48) | +2.0% | #1 of 4 | Bureau of Labor Statistics |
| Job Openings per Job Seeker | 0.70× | 1.05× (m48) | +50.0% | #1 of 4 | Bureau of Labor Statistics |
| Personal Saving Rate | 19.5% | 5.1% (m48) | −14.4 pts | #9 of 9 | Bureau of Economic Analysis |
| Consumer Sentiment | 79.0 | 74.0 (m48) | −6.3% | #7 of 9 | University of Michigan Surveys of Consumers |
| S&P 500 | 3,794 | 6,011 (m48) | +58.4% | #1 of 2 | S&P Dow Jones Indices |
| 10-Year Treasury Yield | 1.1% | 4.4% (m48) | +3.3 pts | #4 of 9 | Federal Reserve |
| 5-Year Treasury Yield | 0.5% | 4.3% (m48) | +3.8 pts | #4 of 9 | Federal Reserve |
| Yield Curve (10Y–2Y) | 0.95 pts | 0.16 pts (m48) | −0.8 pts | #7 of 8 | Federal Reserve |
| Federal Budget Balance | −$3,479B | −$2,029B (m48) | +41.7% | #6 of 7 | U.S. Treasury |
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