new video loaded: Biden Stresses Low Unemployment Rate After Weak Jobs Report
Biden Stresses Low Unemployment Rate After Weak Jobs Report
The Labor Department reported that the economy had added 194,000 jobs in September, well below the half-million forecasted. President Biden, however, expressed optimism, pointing to wage growth and an unemployment rate below 5 percent.
In just eight months since I became president in the midst of a grave public health and economic crisis, the unemployment rate is now down below 5 percent, at 4.8 percent. A significant improvement from when I took office and a sign that our recovery is moving forward even in the face of a Covid pandemic. That improvement was widespread. Unemployment for Hispanic workers was down and the unemployment rate for African Americans fell almost a full percent, and it’s now below 8 percent for the first time in 17 months. Jobs up, wages up, unemployment down. That’s progress, and it’s a tribute to the hard work and resilience of the American people. I too would like to, as I said, move it faster. We’re making consistent, steady progress, though.
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