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BREAKING NEW – U.S. adds 428,000 jobs in April and unemployment rate stays at 3.6%: Good news for Biden as numbers beat expectations – despite inflation at record highs
- The report came in higher than expected
- U.S. is now just about 1 million jobs off pre-pandemic levels
- Unemployment stayed at historically low level
- The good jobs picture comes amid historic inflation
- The Federal Reserve’s Board of Governors hiked interest rates this week
- Biden heads to Ohio to sell his economic agenda today
The U.S. added 428,000 jobs in April and the unemployment remained at 3.6%, according to Bureau of Labor Statistics released on Friday.
The latest numbers beat economists and are good news for President Biden with inflation still at record highs.
The jobs numbers were released with Biden heading to Cincinnati, Ohio, to announce that five major U.S. manufacturers have made commitments to boost their reliance on small and medium American firms for 3D printing.
The latest figures come at a time of record inflation, which voters have increasingly registered as a top concern.
But the 0.3% growth in hourly earnings trailed estimates.
The Federal Reserve’s Board of Governors hiked interest rates by 50 basis points this week, following up on a pledges to undertake efforts to tamp down inflation.
The White House said GE Aviation, Honeywell, Lockheed Martin, Raytheon and Siemens Energy have agreed to take part in the program, which Biden will highlight during a visit to United Performance Metals in Hamilton, Ohio.
The program is being unveiled by the White House as Biden heads to the industrial Midwest to press Congress to approve a stalled competition and innovation bill that the Democratic president says is critical to bolstering domestic manufacturing and helping solve a semiconductor shortage that has delayed production of life-saving medical devices, smartphones, video game consoles, laptops and other modern conveniences.
‘I´m determined to make sure the United States holds the technological high ground in competition with other nations, especially China, as we move forward,” Biden said this week. His comments on the Bipartisan Innovation Act came during a visit Tuesday to an Alabama Lockheed Martin plant building Javelin antitank weapon systems.
The U.S. added 428,000 jobs in April and the unemployment remained at 3.6%, according to Bureau of Labor Statistics released on Friday
The latest numbers beat economists and are good news for President Biden with inflation still at record highs
Source: dailymail
