Fact Check: White House Corrects Biden’s Inaccurate Boast About Gas Prices

But he used inaccurate numbers on both subjects.

Gas prices

Biden said, “Gas prices — I know I’ve been criticized for taking stock. But guess what? Gas prices have dropped, $1.30 a gallon. And in 41 states plus the District of Columbia, the average gas price is less than $1.30 a gallon. $2.99.”
facts first: Biden’s claim about average gasoline prices was false, as the White House acknowledged by: correcting the official transcript after CNN inquired about the claim Friday afternoon. In fact, zero states have an average price of less than $2.99 ​​per gallon, figures from GasBuddy and the American Automobile Association show. As the correction notes, Biden got a key figure wrong: 41 states and the District of Columbia have an average price of less than $3.99, not $2.99.
Biden has used the $3.99 figure correctly in previous comments, and it’s good if a White House is willing to correct inaccuracies. But the price of gas is one of the most important figures in politics. Even if the president made an unintended mistake this time, his inaccurate comment was broadcast live on CNN and MSNBC.
The national average price for regular gasoline is $3,689, according to AAA.

The unemployment rate

Biden said, “We have an unemployment rate of 3.7%, the lowest in 50 — over 50 years.”

facts first: The 3.7% unemployment rate is low by historical standards, but it is not the lowest in 50 years or more than 50 years. In fact, the monthly rate was below 3.7% — either 3.6% or 3.5% — nine times in 2019 and early 2020during the term of former President Donald Trump, plus five times during Biden’s own presidency.
A White House official noted Friday that Biden has rightly said on at least five previous occasions this month that the current unemployment rate is “nearly” its lowest point in 50 years. (Before the Trump era, the rate hadn’t been as low as 3.5% since 1969.) By claiming the 3.7% rate this time around is the lowest in more than 50 years, Biden wasn’t just clearing the recent rise. from 3.5% to 3.7%, but erased the performance of the pre-pandemic economy under its Republican predecessor.

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