English subtitles for clip: File:2016-11-19 President Obama's Weekly Address.webm

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The Vice President: Hi
folks, this is Joe Biden.

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Over the last eight years,
we've created more jobs than

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all the advanced economies
in the world combined.

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Unemployment has
been cut in half.

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Wages are finally
on the rise.

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We've gone from economic
crisis to recovery to the

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cusp of genuine resurgence
-- and we're better

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positioned to own the 21st
Century -- economically and

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otherwise -- than any
other nation in the world.

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But we know there's more we
can do and more that needs

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to be done to make this
resurgence permanent.

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And it begins and ends with
what the President and I

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have believed since day
one -- we have to give the

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American workers
a fighting chance.

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We have to build
the middle class.

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Restore the basic bargain,
which was -- if workers

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contribute to the success
of an enterprise, then they

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should share in the gains.

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We have to make sure that
everyone who's worked hard

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and played by the rules has
a real shot at getting into

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the middle-class
and staying there.

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Over the last eight years,
we've worked with Congress

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to try to do all
those things.

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Every worker in America --
more than 160 million -- got

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an average payroll tax
cut of $1,000 per year.

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Better unemployment benefits
for 18 million job-seekers

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during the recession.

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Trillions of dollars
in tax cuts for low-and

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middle-income families.

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And when Republicans in
Congress didn't act, we used

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our executive authority
to one, extend overtime

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coverage for over 4 million
workers -- boosting their

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wages by $12 billion
over the next decade.

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We've given additional paid
sick leave to more than 1.1

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million workers employed by
federal contractors -- and

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we're requiring that those
workers earn at least

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$10.10 per hour.

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Help to close the pay gap by
fighting back against pay

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discrimination; making
salaries more transparent --

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so employees know what
others are making doing the

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same job.

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We've closed the pay gap
between men and women

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by 10 percent.

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Not nearly enough
-- but it's a start.

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And we also called on cities
and states to act across the

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country, and mayors and
governors are leading the

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way to raise the
minimum wage.

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Since the President's call
to action to increase the

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nation's minimum wage back
in 2013, every state from my

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state of Delaware and 18
others -- and 55 cities --

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have raised their
own minimum wage.

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From Alaska to California,
Nebraska to Florida --

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workers now have a shot at a
paycheck they can actually

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live on and get
out of poverty.

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Seven million workers have
seen their wages rise.

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Earlier this month, four
states -- Arizona, Colorado,

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Maine, and Washington, in
this last general election,

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overwhelmingly passed
minimum wage increases.

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It matters.

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It really matters -- because
no one in America should

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work 40 hours a week and
still live in poverty.

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Additionally, California,
Rhode Island, Washington

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State and New Jersey -- and
more than two-dozen cities

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like Minneapolis and Spokane
-- have extended access to

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paid leave -- expanded it.

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You all know why
that matters.

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In the neighborhoods where
you and I grew up -- if you

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miss a paycheck because
you're sick, or have to take

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care of a loved one -- you
could be in trouble for that

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month's mortgage payment,
the car payment -- just

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paying the heating bill.

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Paid leave makes a real
difference in ordinary

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people's lives.

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We have to preserve the
progress we made over the

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past eight years and
continue to support states

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and cities in their fight
for worker protections.

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It's not just for the
workers who benefit --

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they're not the only ones.

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The economy benefits
-- the overall economy.

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Companies benefit from
higher productivity and

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less turnover.

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Communities benefit when
people have more money to

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spend at local stores, the
diner, the movie theater.

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The entire economy grows.

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Folks, there is so much more
to be done to seize the

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immense possibilities
within our reach.

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We are better positioned
than any country in the

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world to own the
21st century.

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But we have to address the
economic anxieties brought

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on by globalization.

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They're real.

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The increasingly rapid
movement of people, money,

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goods and ideas around the
world -- we can do that.

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But we need to recognize
that globalization hasn't

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been an un-alloyed good --
and we need to empower those

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who have paid the price
of that globalization.

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There's many things we can
do to level this playing field.

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Because given a chance --
American workers have never,

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ever let their country down.

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But they need a chance.

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And I just want
to thank you all.

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Thank you all for the faith
you have in this great

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country because, as I said,
we are better positioned

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than any nation in the world
to own the 21st century.

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We know how to do it.

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Insist that we do it.

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And have not only a great
weekend this weekend, but

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have a great Thanksgiving
weekend -- because we have

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much to be thankful for.

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God bless you all.

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And may God
protect our troops.