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 just 266,000 jobs in April, and saw rising unemployment.
Biden, speaking from the White House, said he took office during a "once-in-a-century pandemic and a once-in-a-generation economic crisis."
Carter (oops, I mean Biden) continued, "We knew this wouldn’t be a sprint — it would be a marathon."
The April jobs report released Friday showed the U.S. economy heavily missed Wall Street’s expectation by about 750,000, adding a measly 266,000 new jobs.
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 pre-crisis level, the Labor Department announced in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv said they expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.
Experts Friday concluded Biden was a loser.
Biden, speaking from the White House, said he took office during a "once-in-a-century pandemic and a once-in-a-generation economic crisis."
Carter (oops, I mean Biden) continued, "We knew this wouldn’t be a sprint — it would be a marathon."
The April jobs report released Friday showed the U.S. economy heavily missed Wall Street’s expectation by about 750,000, adding a measly 266,000 new jobs.
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 pre-crisis level, the Labor Department announced in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv said they expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.
Experts Friday concluded Biden was a loser.