Biden Takes Victory Lap on Jobs Report, Refuses to Take Blame for Inflation
President Joe Biden After the U.S. reported 517,000 new jobs, Friday’s victory lap was taken Jobs in January, topping most economists’ expectations.
President Biden boasted that he created more jobs than any other president during his two-year tenure, with the support of Brian Deese, National Economic Council (NEC), director, and Cecilia Rouse (CEC head), respectively.
“As my dad used to say, jobs are about a lot more than a paycheck,” He told reporters this before he left for Pennsylvania. “It’s about dignity, and 12 million more Americans get up every morning knowing they can provide for their families with a dignity and sense of self-worth that had been missing.”
The unemployment rate fell to 3.4 per cent, which is the lowest level of joblessness since May 1969. Hispanic and Black unemployment are close to record lows. Hispanic unemployment was 4.3 percent and 5.4 percent respectively.
“This matters,” He said. “More working-age folks came into the labor market looking for jobs last month. That has removed all the talk about no one’s looking for work and we need more people coming into the market. Well, more people are coming into the market, looking for jobs, and getting jobs, a positive sign for the health of the economy going forward.”
Biden stated that ahref=”https://www.theepochtimes.com/t-inflation”>inflation The price of a gallon gasoline has fallen by $1.50 from its June 2022 peak of $5.01, which was in June 2022. This has resulted in workers getting more take-home pay and lower- and mid-income workers seeing their real wages rise. “even more.”
The Bureau of Labor Statistics (BLSThe December inflation-adjusted real hourly earnings fell by 1.1 percent. This is combined with a 0.9% drop in the average weekly workweek and real average weekly earnings fell 2 percent.
The president pointed out that this is in addition to the 4.9% GDP growth rate for the fourth quarter.
Biden declined to accept responsibility when asked whether he is responsible for the rise in inflation under his administration.
“Because it was already there when I got here,” He added. “I got here and jobs were hemorrhaging. Inflation was rising. We weren’t manufacturing a damn thing here. We were in real economic difficulty.”
The annual inflation rate was lower than 2 percent at the White House when Biden arrived in January 2021. It topped at 9.1 % in June 2022.
He said that the president would do more in the next two years to lower American healthcare costs, rebuild American infrastructure, and improve supply chain efficiency.
“We’re going to keep seeing shovels hitting the ground all around the country to rebuild the infrastructure and supply chains, manufacturing more here at home and communities across the country that were too easily written off for dead,” The president spoke. “We’re going to not only see jobs coming back but a sense of self-worth and pride coming back.”
Biden will be in Pennsylvania to announce a $500 million plan for removing lead pipes from Philadelphia. He will also be promoting various wins of the administration in his speech before Democrats.
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