The delta variant of COVID-19 is the reason why fewer jobs were added to the economy last month than expected, according to President Joe Biden.
There is “no question the delta variant is why the jobs report isn’t stronger,” Biden said Friday after the Bureau of Labor Statistics reported the economy only added 235,000 jobs in August.
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“What we’re seeing is an economic recovery that is durable and strong,” Biden said at the White House. “While I know some wanted to see a larger number today, and so did I, what we’ve seen this year is continued growth, month after month.”
Although the national unemployment rate fell to 5.2%, economists had projected 750,000 jobs would be added.
Biden blaming the delta variant exposes two weaknesses of his administration. The White House had been praised for its handling of the pandemic, but the president’s struggles to mitigate the consequences of the more contagious strain of the virus have put pressure on his approval ratings. At the same time, Biden has never polled well with voters when they have been asked whether they trusted him with the economy.
Biden also referred to the stock market on Friday, taking a subtle dig at former President Donald Trump, who routinely cited stock gains as evidence of his economic management.
“There’ve been so many records the stock market has hit under my presidency. Imagine if the other guy was here. ‘We’re doing great. It’s wonderful. The stock market is surging. It’s gone up higher under me than anybody,'” he said. “But that doesn’t mean it’s the best for the economy.”
Biden had been trying to spotlight his domestic agenda after widespread criticism over his withdrawal of U.S. troops from Afghanistan. But Friday’s job report may undermine his sprawling infrastructure, climate change, and social welfare spending packages as lawmakers, including West Virginia Democratic Sen. Joe Manchin, point to Biden’s policies for causing rising inflation.
Instead, Biden pledged Friday to “take on” corporations lobbying against his infrastructure-plus proposals so he can “build back better” after the public health crisis.
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“The very wealthy, well, they’re still going to have three homes or four homes if they want. It’s not going to change what schools they can send their kids to. It’s not going to change their standard of living. Just pay your fair share,” he said.
