August 15, 2022
Days after crossing threshold of ‘recession’, Biden wins 500K jobs

WASHINGTON — Still barely a week after testing positive for COVID-19 and metrics suggesting the US economy had entered recession, President Joe Biden donned his trademark Ray-Ban sunglasses on Friday to show off a strong To win over the jobs report.

“This is the lowest unemployment rate in America in the last 50 years: 3.5%. Yes, 3.5%. Today, there are more people working in America than before the pandemic began,” Biden pointed out to the South Lawn Hue told a small group of reporters gathered in front of him on the balcony of the Blue Room. “Indeed, there are more people working than at any time in American history.”

The Labor Department announced early Friday that the economy had added 528,000 new jobs in July, a staggering number more than double what economists had predicted. The numbers for the previous months were also revised upwards slightly.

On July 28, a separate federal report showed the country’s GDP had decreased by 0.9% in the second three months of the year – the second straight quarter of negative growth. This has been the shorthand definition of recession in the past. But it may not be an accurate indicator of the government’s post-pandemic response, which involved pumping out trillions to keep the economy from collapsing.

Biden made no mention of this, instead focusing on the employment situation, which included another large increase in the number of manufacturing jobs.

“Today’s jobs report is part of a wider story,” Biden said. He attributed numbers to his economic policies. He used this opportunity to sell the new agreement among congressional Democrats to pass a scaled-back version of the broader “Build Back Better” agenda, which he pursued on the campaign trail and in his first year and a half in office. pushed.

Biden said he understands that many Americans are struggling because of high inflation rates, but the new settlement law – dubbed the Inflation Reduction Act by lead architect Sen. Joe Manchin (DW.Va) – will help tackle it. .

“This bill is a game-changer for working families in our economy,” he said.

Biden tested positive for COVID-19 on July 21. According to the White House, with both the initial vaccination and two booster doses, his symptoms were mild. He was also prescribed the new anti-viral Paxlovid, and it has continued to work throughout the duration.

After testing negative on July 26, Biden began testing positive again on Saturday, a common occurrence among those taking PaxLovid.

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