President Joe Biden celebrated an encouraging June jobs report, despite concerns about the prospect of a recession.
Biden compared last month’s additional 372,000 jobs to the record of former President Donald Trump, contending his administration created more opportunities for workers in the second quarter of 2022 than in any other quarter under the leadership “of my predecessors in the nearly 40 years before the pandemic.”
OBAMA AND CLINTON MIDTERM POLLING OMINOUS FOR BIDEN’S NOVEMBER ELECTION PROSPECTS
“Today, we learned that our private sector has recovered all of the jobs lost during the pandemic, and added jobs on top of that,” Biden wrote in a statement Friday. “This has been the fastest and strongest jobs recovery in American history, and it would not have been possible without the decisive action my administration took last year to fix a broken COVID response, and pass the American Rescue Plan to get our economy back on track.”
“We have more Americans working in the private sector today than any day during Donald Trump’s presidency — more people than any time in our history,” he said.
Although an average of only 33% approve of Biden’s economic management amid May’s 41-year-high consumer price increase of 8.6%, the president was adamant “no country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.”
Biden also alluded to a prediction job growth will slow based on 3.6% unemployment, adding that was “not a bad thing because our economy should move to stable growth for the years ahead.”
“The best way to achieve that goal is for Congress to pass legislation that lowers costs for families — from prescription drugs to utility costs — while reducing the federal budget deficit, in addition to passing the Bipartisan Innovation Act,” he said.
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June’s consumer price index report is due to be released next week after the Federal Reserve raised interest rates last month by three-fourths of a percentage point, its biggest hike since 1994.
