AssetID: 53836571
Headline: UNCAPTIONED: Biden Celebrates Latest Jobs Report and Economic Gains
Caption: Biden Celebrates Latest Jobs Report and Economic Gains . 'The Independent' reports that the United States economy surpassed expectations in May while adding 272,000 jobs, giving President Joe Biden a boost ahead of the 2024 election. "The great American comeback continues, but we still have to make more progress." "On my watch, 15.6 million more Americans have the dignity and respect that comes with a job." "Unemployment has been at or below 4% for 30 months— the longest stretch in 50 years." "And a record high share of working-age women have jobs.", Joe Biden, President of the United States, via 'The Independent'. Despite Bureau of Labor Statistics data showing a change of only 4%, the unemployment rate exceeded economists' expectations. The greatest increase was seen in the health care sector, which added 68,000 jobs in May, while the government added another 43,000. The month of May also saw wages go up by 0.4%, contributing to a 4.1% increase since the same time in 2023. 'The Independent' reports that the increase in wages means that workers' earnings have now outpaced inflation. According to BLS data, the consumer price index increased by 3.4% in the past year. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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