Days After ‘Recession’ Threshold Crossed, Biden Takes 500K Jobs Victory Lap

WASHINGTON – Still testing positive for COVID-19 and barely a week after metrics suggesting the American economy had entered a recession, President Joe Biden donned his trademark Ray-Ban sunglasses Friday to take a victory lap over a strong jobs report.

“It’s the lowest unemployment rate in America in the last 50 years: 3.5%. Yes, 3.5%. Today, there are more people working in America than before the pandemic began,” Biden said to a small group of reporters gathered before him on the Blue Room balcony overlooking the South Lawn. “In fact, there are more there are more people working than at any point in American history.”

The Labor Department announced early Friday the economy had added 528,000 new jobs in July, a staggering number more than twice what economists were predicting. Previous months’ numbers were revised slightly upward as well.

On July 28, a different federal report showed that the country’s gross domestic product had shrunk by 0.9% in the second three…

Report

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments