Biden blamed the “effects of the delta variant” of the coronavirus for the sluggish growth in US jobs. However, he also claimed that his American rescue plan and vaccination strategy helped boost the economy, even if the Delta variant sparked a resurgence of the Covid-19 pandemic.
“Based on the foundations we laid with the American rescue plan and vaccination strategy, we see an economy and a labor market that can survive the ups and downs of the Delta variant and anything else that comes our way,” said he.
In his remarks on Friday, Biden largely focused on how well the economy was doing year over year and the total number of jobs created since his presidency began. He also pointed to the more positive aspects of the August report, such as the fall in the unemployment rate to 5.2 percent from 5.4 percent in July and the falling number of people filing jobless claims each week.
“The actions we have taken so far have brought America out of economic freefall, stabilized us and allowed us to grow our economy even as we continue to fight Covid. We’re adding jobs and not losing them, ”said Biden.
He also never missed an opportunity to target former President Donald Trump, hinting that economic conditions would deteriorate if Trump were re-elected last November.
“There have been so many records for the stock market under my presidency,” said Biden. “Imagine the other guy was here: ‘We’re doing great. It is wonderful. The stock market is booming. It has risen higher for me than for anyone else. ‘But that doesn’t mean it’s best for the economy.”
Biden acknowledged that despite the progress made during his presidency, “we are not where we need to be in our economic recovery.”
He urged states to extend the benefits of his US bailout as some are due to expire next week and urged Congress to pass its economic agenda to cut the cost of living for families and “millions of well-paying jobs for hard-working” to create Americans. ”
Biden also targeted wealthy companies, saying they would have to pay their “fair share” for his economic agenda to work without raising taxes on working families.
“For the big corporations that don’t want things to change, my message is: It’s time the working-class families, the people who built this country, cut their taxes,” he said.