The added number of jobs is slightly lower than some economists had predicted, but not as disappointing as numbers from April.
President Joe Biden outlined steps being taken to maintain economic growth.on Friday called the May jobs report"great news" about the economic recovery from the pandemic, touting that his administration has led a historic rebound.
The May jobs number is slightly lower than some economists had predicted, but not as disappointing as April's, when the economy gained only 266,000 jobs after economists expected 1 million to be added.President Joe Biden talks about the May jobs report from the Rehoboth Beach Convention Center in Rehoboth Beach, Del., June 4, 2021.
"In short, this is progress, historic progress, progress that’s pulling our economy out of the worst crisis it's been in 100 years," Biden said."No other major economy is gaining jobs as quickly as ours," Biden continued."And none of this success is an accident. It isn't luck. It’s due in no small part, first of all, the cooperation of the American people in responding to my effort to get COVID under control, wearing masks initially and getting vaccinated.
"Because of that law, more than 167 million of those rescue payments of up to $1,400 have gone out to individual families," Biden said. "A recent study, the Census Bureau data, found just how much these checks mattered. They drastically reduced depression, according to the study, anxiety and hardship for families."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Queen will meet US President Joe Biden and First Lady Jill BidenThe monarch, 95, will host the US President and First Lady Jill Biden at Windsor Castle on Sunday 13 June
Read more »
Biden broadens Trump policy restricting investment in Chinese firmsPresident Biden will sign an executive order that would bolster a Trump-era ban on investment in Chinese companies deemed national security threats to the United States
Read more »
Biden targets $2.8B for conservation, outdoor recreationThe Biden administration on Thursday proposed funding for dozens of conservation and recreation projects across the country as it allocates $2.8 billion in grants and programs authorized by a landmark conservation law enacted last year. Congress approved the Great American Outdoors Act by wide, bipartisan majorities with a mandate to support rural economies, boost outdoor recreation and improve access to public lands. The law authorizes $900 million per year — double previous spending — for the Land and Water Conservation Fund and $1.9 billion per year on improvements at national parks, forests, wildlife refuges and rangelands.
Read more »
Biden proposes minimum corporate tax rate to fund $1 trillion infrastructure spendingPres. Biden proposed an infrastructure package worth $1 trillion in new spending that would be funded without raising the corporate tax rate during a meeting Wednesday with the top Republican negotiator on the package.
Read more »
‘They are hair on fire’: Biden admin mulling cyber attacks against Russian hackersThe Biden admin. is moving to treat ransomware attacks as a national security threat, using intelligence agencies to spy on foreign criminals and contemplating offensive cyber operations against hackers inside Russia, U.S. officials tell NBCNews.
Read more »