President Joe Biden is set to address the positive growth in the economy as indicated by the jobs report released on Friday morning. The President’s speech is scheduled to begin at 11:30 a.m. ET.
According to the Labor Department, nonfarm payrolls saw a significant increase of 336,000 in September, surpassing the Dow Jones consensus estimate of 170,000. This growth is also over 100,000 higher than the previous month. The strong surge in job creation suggests a robust recovery in the labor market.
Moreover, the unemployment rate for September stood at 3.8%, slightly higher than the forecasted 3.7%. Despite this marginal difference, the nation’s unemployment rate remains at an impressive level, showcasing the resilience of the economy.
As President Biden prepares to address the nation, the positive jobs report indicates progress towards his administration’s economic goals. The President is likely to highlight the job growth as evidence of the success of his economic policies. It is expected that he will emphasize the need to continue implementing measures that support growth and reduce unemployment further.
Tune in to hear President Biden’s remarks on the jobs report and the state of the economy at 11:30 a.m. ET.