President Joe Biden used January’s jobs report to tout his administration’s economic policies and once again called on Congress to continue passing spending legislation.
The Bureau of Labor Statistics announced earlier in the day that the economy added 467,000 new jobs in January, and the figures from the previous two months were revised up by more than 700,000. In total, the United States has added 7 million jobs since January 2021.
ECONOMY CRUSHED JOBS EXPECTATIONS, ADDING 467,000 IN JANUARY DESPITE OMICRON WAVE
“Our country is taking everything that COVID is throwing at us, and we’ve come back stronger,” the president said. “These announcements are the drumbeat of a jobs resurgence unlike anything we’ve seen in our history. That didn’t happen by chance. It’s a result of the economic plan I put in action on day one when I said it’s going to be ‘Buy America.’ I’m delighted to keep going and expand what we’ve done because we have a great opportunity ahead of us to further make progress.”
Biden cited the House’s vote Friday morning to pass the America COMPETES Act, legislation that will pour billions into semiconductor research and manufacturing and address other domestic supply chain deficiencies. He claimed the bill will help the U.S. counter China and will lead to “more announcements like the one we’ve had in these past few weeks.”
“The United States is once again in a position to not only compete with the rest of the world but out-compete the rest of the world once again,” he said in closing. “We can keep coming together to invest in the backbone of the American working class, the middle-class folks, and there’s no limit to what we can achieve.”
Despite the labor progress reported by the Biden administration, the economy added 600,000 fewer jobs in 2021 than the Biden administration predicted. Meanwhile, commercial prices continue to rise, with year-over-year inflation currently at the highest point in four decades.
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You can watch Biden’s remarks in full below.
