Biden praises job report despite rising unemployment rate.
OAN’s Roy Francis
1:28 PM – Saturday, September 2, 2023
President Joe Biden delivered a speech on Friday, remarking on the number of jobs that have been added to the job market.
The president said that the United States is in one of the “strongest job creating periods in our history,” after the recently released Bureau of Labor Statistics report said that 187,000 jobs were added in the month of August, an increase from the 157,000 in July.
“We came to office determined to build the economy in a different way, from the middle out and the bottom up, not the top down,” Biden said. “While I’m proud of the historic legislation my administration has passed and the policies we’ve enacted, the real heroes of this story are the American people, average Americans. They’re the ones getting up every day, putting their heads down, going out that door and going to work.”
However, while the amount of jobs that have been added has increased, the unemployment rate rose as well in the month of August to 3.8%, bringing the amount of people without employment to 6.4 million.
The current rate of unemployment is the highest that the country has seen since February 2022, according to the Labor Department.
The Bureau of Labor Statistics also showed that rent, transportation, food and gas prices have all been on the rise as well.
Meanwhile, according to a recent LendingClub report, 61% of adults say that they are living paycheck to paycheck. Almost three-quarters of consumers that are earning less than $50,000 annually, and 65% of those who earn between $50,000 and $100,000, have also been living paycheck to paycheck.
While touting “Bidenomics,” Biden slammed President Donald Trump for leaving office with “fewer jobs than when he entered.”
“It wasn’t that long ago that America was losing jobs,’ he said. ‘In fact, my predecessor was one of only two presidents in history, who entered his presidency and left with fewer jobs than when he entered.”
However, the previous administration had seen massive job growth until the economic shutdown across the country due to COVID-19 had forced people home, leading to a stall in economic growth.
According to the Bureau of Labor Statistics, the industries that saw the most job growths in August were health care, leisure and hospitality, social assistance and construction.
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