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US unemployment drop signals ‘recovery is progressing’: Joe Biden

The US unemployment rate fell below five percent for the first time since March 2020, Joe Biden said.

Washington: US President Joe Biden put a shine on the disappointing job creation data on Friday by focusing on the drop in unemployment, which he said is a “signal that our recovery is progressing.”

While the number of new jobs last month was significantly lower than expected, the unemployment rate fell to 4.8 percent – below five percent for the first time since March 2020, Biden said.

“The monthly totals bounce around, but if you take a look at the trend, it’s solid,” he said of the job creation numbers. “When you take a step back and look at what’s happening, we’re actually making real progress.”

(This story has not been edited by NB staff and is auto-generated from a syndicated feed.)

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