Remarks by Secretary of the Treasury Janet L. Yellen at East Valley American Job Center in Mesa, Arizona

As Prepared for Delivery I. Introduction Thank you to everyone for being here. It’s good to be in Mesa today with Chairman Sellers and Mayor Giles to highlight what we’re seeing at this American Job Center and across the country. Over the past three years, the Biden Administration has driven a historic economic recovery. Economic growth is strong. The labor market is also remarkably healthy. We’ve created over 15 million jobs since the start of this Administration. The unemployment rate has been below four percent for the longest stretch in over 50 years. Real wages—wages after adjusting for inflation—have increased over the past year. Household median wealth has also increased: by 37 percent between 2019 and 2022. Families are putting their accumulated savings and extra income back into the economy.