In August, the hiring in the U.S. job market became slow; a significant drop-off happened after two months of dealing with the Delta variant of Covid-19. U.S.
President Joe Biden said that the situation means good news. He stated that he could view a positive outcome on the recovery of the economy that is strong and durable. With the help of the Biden plan, results are promising.
On Friday, the Labor Department stated that the unemployment rate has dropped to 5.2%, but the job market has failed significantly by not meeting the predicted expectations. Dow Jones, an economist, surveyed 720,000 new jobs.
President Biden stressed the number of jobs in his recent speech on Friday before going to New Orleans. He boasted of the economic recovery of the country to remain strong.
Biden’s speech to press Congress includes submitting his $3.5 trillion budget package, which Joe Machin, Democratic Senator, said that they should stop mentioning inflation concerns.
Moreover, Biden stressed that the budget is focused on the nation’s long-term economic recovery, and he also mentioned paying the package by taxing corporations.