Name: Biden: May jobs report shows signs of a “healthy economy”
Uploaded: 2022-06-03
Duration: 2 min 39 s
Description: The unemployment rate dropped to 3.6%.

Biden: May jobs report shows signs of a “healthy economy”

Politics

today's Excellent jobs report and unemployment remaining at near historic low of 3.6%. I know that even with today's good news, a lot of americans remain anxious and I understand the feeling. I grew up in a family about 100 miles from here that if when the price of gas went up, you felt it was a discussion at the kitchen table and there's no denying that high prices, particularly around gasoline and food are a real problem for people. But there's every reason for the american people to feel confident that will meet these challenges. Because of the enormous progress we made on the economy. The americans can tackle inflation from a position of strength. The point is this we've laid an economic foundation that's historically strong and now we're moving forward to a new moment but we can build on that foundation, build a future of stable steady growth so we can bring down inflation without sacrificing all the historic gains we've made. And that's what we're beginning to see in today's jobs report With today's numbers. The jobs over the last three months have averaged about 400,000 jobs per month. That's historically robust And a sign we're beginning to shift to steady growth after rapidly recovering $600,000 a month over the prior six months. And as we move to a new period of stable steady growth, we should expect to see more moderation. We aren't likely to see the kind of blockbuster job reports, month after month like we had over this past year. But that's a good thing. That's a sign of a healthy economy with steady growth. Rising wages for working families everyday cost easy enough and shrinking the deficit that stability puts us in a strong position to tackle what is clearly a problem inflation. My plans to produce the strongest, fastest, most widespread economic recovery America has ever experienced with record jobs, new record, small business and the wages rising. It's the foundation for an economy that works for working families. Because of that foundation, we're better positioned than any country in the world, overcome global inflation that we're seeing and reach a new chapter of stable and steady growth. So let's come together and focus on what matters on what matters. Let's build on the extraordinary progress we made. Let's continue to build this economy from the bottom up in the middle out. When that happens, everybody does well, including the very wealthy. Thank you and God bless you and God may God protect our troops