| U.S. President Joe Biden speaks about the September Employment Report from the Department of Economics and Labor at the Eisenhower Administration Building at the White House in Washington, DC, on October 8, 2021. © Reuters=News1 © News1 Correspondent Kim Hyun |
US President Joe Biden said the unemployment rate had fallen below 5% in September and that the US economy is making “real progress” in the recovery.
In a speech at the White House in connection with the release of the US employment statistics for September, President Biden said on the 8th (local time) that the unemployment rate fell below 5% for the first time since March last year. “It’s a sign that our (economic) recovery is moving forward despite the (COVID-19) pandemic.”
Earlier, the U.S. Department of Labor reported that non-farm payroll jobs increased by 194,000 last month. This is far below the market forecast of 500,000 units. However, the unemployment rate stood at 4.8% last month, down 0.4 percentage points from the previous month.
President Biden emphasized that an average of 600,000 jobs have been created per month, or more than 5 million jobs overall, in the eight months since he took office. “He said.
“As you know, the situation in Washington is very noisy. When you turn on the news, every conversation is a confrontation. Every disagreement is a crisis,” he said. .
“Maybe it doesn’t seem fast enough,” he said. “I want to see it sooner, and I’ll make it faster.”
“America is still the largest economy in the world, and we still have some of the world’s most innovative, productive workers,” Biden said. .
“What we need to do in our time is to prepare ourselves to be competitive to win in the rapidly changing 21st century global economy,” he added, which is why he proposed the bipartisan infrastructure bill and social welfare bill.
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