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new video loaded: Biden Stresses Low Unemployment Rate After Weak Jobs Report
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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.
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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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