| Advertisement |
Oct. 6 (UPI) -- President Joe Biden said Friday the 336,000 jobs created in September brings the total created during his term to 13.9 million. Biden also reminded Americans that inflation is 60% lower than last summer and unemployment remains low.
Advertisement
"Since I've taken office, we've created 13.9 million new jobs," Biden said during live streamed remarks from the White House. "The unemployment rate has stayed below 4% for 20 months in a row, the longest stretch in 50 years. We've achieved a 70-year low in the unemployment rate for women, record lows in the unemployment rates for African-American and Hispanic workers."
Biden said those numbers are no accident, rather a result of Bidenomics.
"We're growing the economy from the middle out and the bottom up, not the top down," he said.
Noting National Manufacturing Day, Biden said 13 million Americans are working in manufacturing jobs. Of those, Biden said, 815,000 were created while he's been in office, "twice as many as the previous administration."
He said core inflation was down to 2.2% over the past three months. Biden said the United States now has the lowest inflation of any major economy in the world.
During his remarks, Biden called out Republicans in the U.S. House of Representatives for what he said was chaos that threatens progress on the economy and efforts to reduce the deficit.
He said an earlier agreement he reached with former House Speaker Kevin McCarthy will cut the national deficit by $1 trillion over 10 years.
"It's time to stop fooling around. House Republicans, it's time for you to do your job, continue our progress growing the economy, investing in America, investing in the American people," Biden said. "So let's get to work for the American people. They are waiting and watching."
The U.S. economy added more jobs than expected in September while unemployment rates held steady, the Department of Labor reported on Friday.
Nonfarm payrolls increased by 336,000 in September, surpassing the average monthly gain of 267,000 over the past year, with leisure and hospitality, health care, government, professional, scientific and technical services and social assistance all added jobs.
Meanwhile, the report found that the unemployment rate held at 3.8%, with the number of unemployed people "essentially unchanged" at 6.4 million.
Friday's government jobs report came after ADP's National Employment Report just two days ago showed 89,000 private sector jobs created in September.
According to the Bureau of Labor Statistics 5.5 million people were not in the labor force but want jobs.
"These individuals were not counted as unemployed because they were not actively looking for work during the four weeks preceding the survey or were unavailable to take a job," the BLS said. "Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force changed little at 1.5 million in September. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey."
On Tuesday the Labor Department reported that the number of job openings rose to 9.6 million for August.
In September the average U.S. workweek for all employees was 34.4 hours while the manufacturing workweek was 40.1 hours.
