The Bureau of Labor Statistics jobs report released Friday found the U.S. unemployment rate fell to 3.4%, a 53-year low, compared to an estimate of 3.6%.
Friday's jobs report showed the strongest payroll gains since July, a positive sign for the economy entering the new year.
The report is welcome news for the White House days out from Biden's State of the Union address where he looks to do a victory lap for his handling of the economy and urge members of Congress to stay the course.cheered jobs numbers released Friday morning showing the lowest unemployment rate in almost 54 years, pointing to the report as another example of that his policies are working.
"We've created 12 million — 12 million jobs — since I took office," Biden said. "That's the strongest two years of job growth in history by a long shot." "Even as the job market reaches historic highs, inflation continues to come down. Inflation has now fallen for six straight months," Biden said. "As inflation is coming down, take home pay for workers is going up. Real wages are up and wages for lower-income and middle-income workers have gone up even more."
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