U.S. President Joe Biden said that the U.S. is recovering from the COVI-19 pandemic faster and stronger than expected. This came from payroll gains which made the labor market appear to be back on track. Those payroll gains were nonfarm payrolls increasing 531,000 last month which beat an estimate of 450,000. Biden said that the economy is working for more Americans and that America is getting back to work as the unemployment rate fell to 4.6%. He then claimed that this recovery is historical. This all comes after Biden's announcement of moving parts in his Build Back Better programs and infrastructure bill compiling his economic agenda. Biden will look to use the positive recovery news to influence his economic agenda bills to pass as much as he can.
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I hope that we are over a major hurdle for the U.S. economy in terms of job growth as it was strikingly slow during the summer. The recent growth has been encouraging though as the Biden administration continues to deal with supply chain issues that will continue to plague our economic recovery. He can also continue to advocate for better infrastructure as our ports serve a vital role in the economy but haven't had significant improvements in the last few decades.
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