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* The COVID-19 pandemic and the Great Resignation had a dramatic influence in statistics presented, including a sharp increase in unemployment rate at the time of changes from Trump to Biden. Annualized change in unemployment rate over each presidency from Truman to Biden, ordered from best-performing to worst-performing economic performance.
When adjusted for inflation, Trump’s average is $3.18 in 2024 dollars, 21% less than Biden’s inflation-adjusted price of $3.86. A Dozen Eggs. According to the St. Louis Fed, a dozen large ...
The big exception to those positive trends is inflation. Prices rose rapidly during Biden’s first two years in office, reaching the highest rate in more than 40 years in the summer of 2022.
The latest data, which came out Wednesday after Biden's recent remarks, pegs the current year-over-year inflation rate at 3.4%, a slight downtick from a 3.5% rate in March.
Joe Biden (2021-24) Average Annual Inflation Rate: 5.7%. While Joe Biden’s presidency isn’t over yet, it has been characterized by a period of high inflation. During the early parts of his ...
The first year of the Biden presidency (2021) saw strong growth in real GDP, wages, employment, stock market returns, and household net worth, coupled with an increase in inflation, as the economy recovered from the pandemic recession of 2020. During 2022–2023, the unemployment rate averaged 3.6%.
In terms of buying power, inflation split Biden’s presidency into a wipeout phase and a recovery phase, as the chart above shows. From April 2021 through May 2023, real earnings were negative ...
As for inflation itself, it was 7.4% during Jimmy Carter’s 17th month, while it’s 8.6% at the same point in Biden’s presidency. Advantage Carter, yielding our 3-3 tie.