Oct. 6 (UPI) President Joe Biden announced on Friday that the addition of 336,000 jobs in September brings the total number of jobs created during his administration to a staggering 13.9 million.
Furthermore, Biden emphasized that inflation is currently 60% lower than the previous summer and that unemployment rates remain at a low level.
“Throughout my tenure, we have generated an impressive 13.9 million new jobs,” Biden proudly stated during a live-streamed address from the White House. “The unemployment rate has consistently stayed below 4% for 20 consecutive months, marking the longest period in 50 years. Additionally, we have achieved an unprecedented 70-year low in unemployment rates for women, as well as record lows for African-American and Hispanic workers.”
Biden attributes these remarkable figures to his economic policies, known as Bidenomics.
“We are fostering economic growth from the bottom up and the middle out, rather than focusing solely on the top,” he explained.
On National Manufacturing Day, Biden acknowledged that 13 million Americans are currently employed in manufacturing jobs. Of these, 815,000 jobs were created during his tenure, doubling the number from the previous administration.
Biden also highlighted that core inflation has dropped to 2.2% over the past three months, positioning the United States as the country with the lowest inflation rate among major economies worldwide.
During his speech, Biden called out Republican representatives in the U.S. House of Representatives, accusing them of creating chaos that jeopardizes progress on the economy and deficit reduction efforts.
He also mentioned the bipartisan agreement he reached earlier with former House Speaker Kevin McCarthy, which is projected to reduce the national deficit by $1 trillion over the next decade.
“It is time to stop playing games. House Republicans, it is time for you to fulfill your responsibilities and continue our work in growing the economy and investing in the American people,” Biden urged. “Let us get to work for the American people, who are eagerly awaiting and closely watching our actions.”
The U.S. Department of Labor reported on Friday that the economy added more jobs than anticipated in September, while unemployment rates remained stable.
The report revealed that nonfarm payrolls increased by 336,000 throughout the month, surpassing the average monthly gain of 267,000 over the past year. Sectors such as leisure and hospitality, healthcare, government, professional and technical services, and social assistance all contributed to the job growth.
Simultaneously, the unemployment rate remained at 3.8%, with the number of unemployed individuals essentially unchanged at 6.4 million.
This government jobs report follows ADP’s National Employment Report, which was released two days prior and indicated the creation of 89,000 private sector jobs in September.
According to the Bureau of Labor Statistics, 5.5 million people who desire employment are not actively participating in the labor force.
“These individuals are not recognized as unemployed since they were not actively seeking work during the four weeks preceding the survey or were unable to accept a job,” the BLS clarified. “Among those not in the labor force but desiring employment, the number of marginally attached individuals remained relatively stable at 1.5 million in September. These individuals are willing and available to work and have sought employment at some point during the past 12 months, although they did not actively search for work in the four weeks preceding the survey.”
The Labor Department further reported a rise in job openings to 9.6 million for August.
In September, the average workweek for all U.S. employees was 34.4 hours, while the manufacturing workweek averaged 40.1 hours.
