Friday, 1 July, 2022

Biden hails drop in US unemployment

WASHINGTON: US President Joe Biden cheered government data released Thursday that showed unemployment benefit filings dropping to levels not seen in more than 50 years, calling it evidence his economic policies were working.

The Labor Department reported 187,000 new claims for jobless aid were made last week, seasonally adjusted, the lowest level since the week of September 6, 1969, reports AFP.

It also said the number of people receiving regular state unemployment benefits in the week ending March 12 was 1.35 million, the lowest it had been since January 3, 1970. Both of those figures represented decreases from the week prior.

“This historic progress is no accident: it’s the result of an economic strategy to grow the economy from the bottom up and middle out,” Biden said in a statement.