Despite the fact that the US economy added considerably fewer jobs than predicted in August, President Biden reaffirmed on Friday that the American economy is “durable and strong,” blaming the dismal jobs data on the COVID-19 delta variant.
The Bureau of Labor Statistics said Friday that hiring slowed considerably in August, adding only 235,000 jobs, far less than the 728,000 to 750,000 projected by some economists. Since January, the economy has added the fewest number of jobs. From 5.4 percent to 5.2 percent, the jobless rate has declined.
Mr. Biden admitted that the figures were unsatisfactory, but said that the delta variant had caused the nation to stall.
âThere’s little doubt the delta variation is to blame for today’s weak jobs report. He stated, “I realize folks were hoping for a bigger figure.”
Mr. Biden also stated that the poor jobs data demonstrates the necessity for his $3.5 trillion spending program as well as the $1.2 trillion bipartisan infrastructure bill.
The leisure and hospitality industry, which was among the top hirers during the recovery after being shut down during the epidemic, was not among the top hirers in August, implying that consumers were delaying trip plans due to the rising delta variant.
The economy is still 5.3 million jobs short of where it was before the coronavirus epidemic shut it down in February 2020.
Republicans have a different perspective. Ronna McDaniel, the chairwoman of the Republican National Committee, said in a statement that the economy is slowing because Mr. Biden’s policies are beginning to hinder growth.
