America – and most notably Black America – is back to work, declared President Joe Biden as he announced one of the most robust job reports in modern times.
The economy created 467,000 jobs in January, and the unemployment rate for Black workers fell to 6.9 percent and dropped to 5.8 percent for African American women.
“It comes alongside the largest drop in the unemployment rate in a single year on record, the largest reduction in childhood poverty ever recorded in a single year, and the strongest economic growth this country has seen in nearly 40 years,” President Biden asserted. “Average people are getting clobbered by the cost of everything,” President Biden said. “Gas prices at the pump are up. We’re working to bring them down, but they’re up. Food prices are up. We’re working to bring them down as well.”Before the president’s remarks, the U.S. House of Representatives voted 222-210 to pass the COMPETES Act, a bill to help America keep up with China in the semiconductor chip industry.
The bill would introduce several changes to American trade rules to level the playing field for domestic businesses and combat China’s market-distorting trade practices.
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