President Joe Biden on Friday hailed stronger-than-expected job growth in July as a strong economic signal as Democrats seek to pass a major spending bill focused on climate, health and tax policies .
Speaking from the Blue Room balcony as he is still in isolation with COVID, Biden said the 528,000 jobs added in July represent 10 million jobs created since he took office.
“This is the fastest job growth in history,” he said. “Today, we also matched America’s lowest unemployment rate in 50 years: 3.5%.”
White House officials initially braced reporters for data that indicated a slowdown in growth, but the Bureau of Labor Statistics report marked a significant increase in the 372,000 jobs added in June.
Marking a week of political victories, Biden also took a victory lap on lower gas prices, as costs at the pump have declined for 50 days in a row.
Still, he acknowledged that many Americans are still feeling the pain of inflation.
“Now, I know people will hear today’s overtime jobs report and say they don’t see it, they don’t feel it in their lives,” he admitted. “I know how hard it is. I know it’s hard to feel good about job creation when you already have a job, and you’re dealing with rising prices and food and gas and so much more.”
More relief could come soon, he said, from the Lower Inflation Act — a $740 billion spending bill that Democrats are seeking to push through a fast-track process known as reconciliation.
Biden referred to provisions in the bill that will allow Medicare to negotiate prescription drug prices and provide incentives for Americans to invest in clean energy.
In this July 28, 2022 file photo, President Joe Biden listens during a meeting with CEOs in the South Court Auditorium of the White House complex in Washington, DC.
Susan Walsh/AP, FILE
The president said they are “close” to passing the legislation after Sen. Kyrsten Sinema, D-Ariz., announced Thursday that she would move forward with the bill after removing a tax provision that opposite of the legislative text.
Sinema was the last stand and is a critical vote as Democrats need the support of all 50 caucus members to pass the bill amid expected unanimous opposition from Republicans in the chamber.
Senate Majority Leader Chuck Schumer, D-N.Y., secured the first vote to begin debate on the bill Saturday afternoon.
Biden said the bill is “a game changer for working families and our economy.”
“You know, I know most families are just focused on putting three meals on the table, taking care of their kids and paying their bills,” she said. “Helping you do that is my job.”