Biden Takes Victory Lap Over 209k Jobs Report: ‘This is Bidenomics in Action’
AP Photo/Evan Vucci
President Joe Biden took a victory lap after a June jobs report that showed 209,ooo jobs created, and as Biden pointed out, 13.2 million jobs since he took office — chalking the results up to Bidenomics.
Friday morning saw the release of a new jobs report from the Bureau of Labor Statistics that fell short of last month’s boffo total, but still showed unemployment ticked down slightly and the economy still adding hundreds of thousands of jobs:
Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction.
The jobs number came in below expectations, which is paradoxically good news for those hoping the Federal Reserve will not further raise interest rates in order to cool inflation.
In a statement Friday morning, President Biden pointed to the result and his cumulative jobs record as evidence that his policies are working:
Statement from President Joe Biden on June Jobs Report
This is Bidenomics in action: Our economy added more than 200,000 jobs last month—for a total of 13.2 million jobs since I took office. That’s more jobs added in two and a half years than any president has ever created in a four-year term. The unemployment rate has now remained below 4 percent for 17 months in a row—the longest stretch since the 1960s. The share of working-age Americans who have jobs is at the highest level in over 20 years. Inflation has come down by more than half. We are seeing stable and steady growth. That’s Bidenomics—growing the economy by creating jobs, lowering costs for hardworking families, and making smart investments in America.
President Biden and his team have been promoting “Bidenomics,” the media-coined term that his team has adopted as a shorthand for the administration’s policies that will form the basis of Biden’s case for reelection.
