President Joe Biden celebrated the latest job report, which revealed strong job growth in August. Despite this positive news, the unemployment rate increased. The Bureau of Labor Statistics reported that the economy added 187,000 jobs in August, surpassing the 157,000 jobs created in July. However, the average monthly gain of 271,000 jobs over the past year was higher than the August figure.
Although job growth was evident, the number of unemployed individuals rose by 514,000, representing an increase of 3.8%. This brought the total number of unemployed people to 6.4 million, a figure reminiscent of the previous year. The percentage of the population that is employed or actively seeking work also witnessed a slight increase of 0.2%, reaching a rate of 62.8%.
The industries that experienced job gains included health care, leisure and hospitality, social assistance, and construction, as reported by the agency. President Biden, speaking from the Rose Garden, highlighted his administration’s commitment to rebuilding the economy by focusing on public investments, worker education, and promoting competition – a strategy referred to as Bidenomics.
Acknowledging the challenges he faces with public sentiment on the economy, Biden thanked the American people, describing them as the true heroes in the economic recovery. In an AP-NORC poll conducted in August, only 36% of adults approved of his handling of the economy, while 42% approved of his overall job as president.
Taking a dig at the previous administration, President Biden asserted that former President Donald Trump was the only president who left office with fewer jobs than when he entered. These remarks come ahead of Biden’s scheduled trip to Florida to assess the damage caused by Hurricane Ida, where he confirmed he would meet with Florida Governor Ron DeSantis.
In conclusion, while President Biden lauds the strong job growth in August, he acknowledges the uphill battle in public perception. Despite the increase in employment, the unemployment rate rose, leaving room for further economic recovery. Biden’s focus on rebuilding the economy from the middle out and the bottom up remains central to his administration’s strategy. As the president travels to Florida, he hopes to gain a firsthand understanding of the damage caused by Hurricane Ida and work alongside Governor DeSantis to address the aftermath.
