Thanks in part to President Biden and Democrats’ economic plan, Nevadans are finding new jobs and finding our country in a strong position to fight inflation — no thanks to Republicans who voted against the American Rescue Plan and are more focused on helping their ultra-rich friends and trying to grab power than work towards solutions. 

Thanks in part to President Biden and Democrats’ economic plan, Nevadans are finding new jobs and finding our country in a strong position to fight inflation — no thanks to Republicans who voted against the American Rescue Plan and are more focused on helping their ultra-rich friends and trying to grab power than work towards solutions. 

Here are five key points about the current economy and how we got here:

1. President Biden and Democrats have delivered one of the strongest job markets in Nevada’s history.

When President Biden took office, the unemployment rate was 10.2% in Nevada. Thanks in large part to President Biden and Democrats, the Nevada economy has added 153,000 jobs, the unemployment rate has dropped to 5%, and initial claims for unemployment insurance have fallen by 86%.

Many Nevadans were relying on unemployment insurance to feed their families and keep a roof over their heads. Today, thanks in large part to Democrats’ American Rescue Plan, the unemployment rate in Nevada is down to 5%. After the pandemic put so many out of a job, Nevadans are getting back to work thanks to the American Rescue Plan – and no thanks to congressional Republicans who opposed the critical relief package. 

2. Despite being one of the hardest-hit states by the pandemic, Nevada has one of the fastest recovering economies in the country

In the fourth quarter of 2021, Nevada’s real GDP grew 7.9% annually. In particular, in Nevada’s largest GDP sector, financial services and real estate, real GDP grew by 10.4% in the fourth quarter of 2021.  

3. Democrats are helping small business owners get started while Republicans have a plan that could raise their taxes

During President Biden’s first year in office, Nevadans applied to start more new small businesses than any other year since 2005. Meanwhile, Republicans have a plan that could raise taxes on 55.3% of all Nevada small business owners, and 80.8% of small business owners making less than $50,000 per year.

4. Since President Biden and Democrats’ American Rescue Plan, poverty was projected to decrease in Nevada

Thanks in large part to Democrats’ American Rescue Plan – which passed without any support from congressional Republicans – poverty in Nevada was projected to decrease from 14.7% in 2018 to 8.7% in 2021, and for children under 18, from 15.7% in 2018 to 7.3% in 2021.

5. Democrats are taking action to address inflation

To help drive down costs, President Biden has authorized unprecedented releases from the U.S. oil reserves and House Democrats have passed legislation that would prevent price gouging on gas – no thanks to the Republicans who all voted against it. Meanwhile, President Biden’s Bipartisan Infrastructure Law and the American Rescue Plan are helping to lower costs on everything from child care to high-speed internet, and helping to bolster supply chains to make it easier for goods to get where they’re going. 

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