U.S. economy is ‘moving in the right direction’


President Joe Biden addressed the recently released April jobs report from the White House on Friday, saying despite the slight increase in the unemployment rate, the country is still on the road to economic recovery. 

What You Need To Know

  • President Joe Biden on Friday said while the April jobs report may seem disappointing, the United States is actually “moving more rapidly” on economic growth than he predicted
  • According to the jobs report, the economy added only 266,000 jobs last month, despite reporting an increase of 916,000 in March and 468,000 in February
  • The unemployment rate also increased to 6.1%, up a slight tick from the previous 6% figure
  • Biden said non-linear economic growth is to be expected, adding that his $1.9 trillion American Rescue Plan was designed to aid the economy over the course of the year

The jobs report, which was released by the Bureau of Labor Statistics on Friday, fell far short of the expectations of…

Read more…