Biden reacts to weak jobs report, says US 'still digging out of an economic collapse,' but on 'right track'
Fox News
President Biden on Friday said the country is “still digging out of an economic collapse” amid the coronavirus pandemic, but that the U.S. is on the “right track,” as the administration reported that the economy created 266,000 jobs in April.
"We knew this wouldn’t be a sprint—it would be a marathon," Biden said. The April jobs report released Friday showed the US economy heavily missed Wall Street’s mark, adding a measly 266,000 new jobs as the country continues to recover from the COVID-19 pandemic. The unemployment rate also unexpectedly rose to 6.1%. While it's still well below the April 2020 peak of 14.7%, it's about twice the precrisis level, the Labor Department said in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.
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