Joe Biden calls dismal job report 'historic day' in recovery on unemployment dip

Despite a December jobs report that showed the fewest jobs added in any month of 2021, President Joe Biden focused on a drop in the unemployment rate, calling it a ‘historic day for our economic recovery’.

The US economy added only 199,000 jobs last month, according to Bureau of Labor Statistics data released on Friday, versus the Dow Jones estimate of 422,000.

Meanwhile, the unemployment rate fell to 3.9%, which was better than the 4.1% estimate.

‘First time it’s been under 4% in the first presidential term in 50 years,’ Biden said of the unemployment rate.

The most jobs were created in the leisure and hospitality industry, with 53,000 added.

Breaking story, check back for updates…

Source: Read Full Article