“A historic day for economic recovery in the US”

The president of the United States, Joe Biden, commented on i Conflicting data released today on employment in December and spoke of “a historic day for economic recovery” in the United States.

“Biden’s business plan is working and is getting America back to work,” the president said during a press conference at the White House.

The unemployment rate in the US continued to decline, more than expected, falling to 3.9% in December, close to the pre-pandemic level (3.5%).

But the largest economy in the world created just 199,000 jobs in the last month of 2021, far from the 440,000 predicted by analysts, while the job market is grappling with the new wave of Covid, with the Omicron variant also running in the US.

The US president also claimed to be confident in the Fed’s ability to make the right decisions to fulfill its dual mandate, that is, full employment and stable consumer prices.

“I have no doubt that the Federal Reserve will act to achieve its double aim for full employment and stable prices and to ensure that price increases do not catch on in the long term, with the independence it needs, “he said.

Meanwhile, inflation hit 6.8% in November year-on-year, the highest since June 1982.

“But the best way for me (to ensure full employment and stable prices), as president – he explained – is build a more productive economy “, aiming at” a growing economy where people have more opportunities, more opportunities to create small businesses “.

He then added that there has been a 30% increase in requests for new small businesses, without specifying for what period.

By Editor

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