President Biden on Friday touted the March jobs report as evidence that the U.S. economy is roaring back to life in the wake of the COVID-19 pandemic, despite headwinds from sky-high inflation, tighter monetary policy and the Russian war in Ukraine.
Millions of workers are seeing the largest pay gains in years, as companies compete with one another for a limited number of employees: Wages climbed 5.6% in March from the previous year, nearly double the pre-pandemic average of 3%. in nearly four decades that has pushed the price of everyday necessities like gasoline, clothing and food significantly higher – which Biden acknowledged.
Bay Shore, N.Y.: A large"Now Hiring" advertisement posted on the windows of the Advance Auto Parts store in Bay Shore, New York on March 24, 2022."Even though we created a record number of jobs, I know that this job is not finished," the president said. "We need to do more to get prices under control.
The rising prices have been bad news for Biden, who has seen his approval rating plunge as inflation climbs higher.He repeated his previous claim that the conflict in Europe is responsible for exacerbating already sky-high inflation by driving gas prices higher, something the White House has dubbed "Putin's price hike." Biden announced this week that the U.S.
"Nations are coming together to deny Putin the ability to weaponize his energy resources against American families, not only American families but families in Europe and around the world," Biden added.
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