Biden Pledges New Jobs, Stronger Supply Chain Despite Mixed Jobs Report
Published Date: 1/7/2022
Source: Bloomberg Quicktake: Now
President Joe Biden On Friday touted the nation's "historic" unemployment numbers despite a mixed report on the U.S. jobs market. Speaking from the White House, Biden called it "a historic day for our economic recovery," with news that the national unemployment rate fell below four percent to 3.9 percent, "the sharpest one year drop in unemployment in the United States history," he said. While the nation's unemployment rate did fall in December to a healthy 3.9% - a pandemic low - employers added only about half the number of jobs last month that economists expected, a seeming negative for the economy. And economists have cautioned that job growth may slow in January and possibly February because of omicron cases, which have forced millions of newly infected workers to stay home and quarantine. Still, average wages rose more for workers than expected, adding to evidence the jobs market is strong enough for the Federal Reserve to continue leaning toward raising interest rates more quickly off their record lows. Biden said the numbers prove "Americans are moving up to better jobs with better pay, with better benefits." "This is the kind of recovery I promised and hoped for for the American people, where the biggest benefits go to the people who work the hardest and are more often left behind," he said. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake