The US economy added 339,000 jobs in May whereas the unemployment rate rose to 3.7 percent from 3.4 percent, the Bureau of Labor Statistics showed Friday.
Accounting to the Bureau of Labor Statistics, job gains occurred in professional and business services, government, health care, construction, transportation and warehousing and social assistance.
In a statement on the jobs report, President Joe Biden said “today is a good day for the American economy and American workers.” “We have now created over 13 million jobs since I took office. That is more jobs in 28 months than any President has created in an entire 4-year term,” he added.
He continued “we also learned that the unemployment rate has been under four percent for 16 months in a row. The last time our nation had such a long stretch of low unemployment was in the 1960s.” He noted “the the share of working age Americans in the workforce is at its highest level in 16 years.” He stressed that “due to the historic action taken by Congress this week, my economic plan will continue to deliver good jobs for the American people in communities throughout the country.” “I look forward to signing the bipartisan budget agreement into law,” he said. “The agreement protects our historic and hard-earned economic recovery and all the progress that American workers have made in the last two years. And it protects key priorities and accomplishments from the last two years.” “Our work is far from finished, but this agreement is a reminder of what?’s possible when we act in the best interests of our country,” Biden concluded.
Source: Kuwait News Agency