Biden touts ‘great American comeback' after better-than-expected May jobs report
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President Joe Biden touts the May jobs report, which showed that the U.S. economy added 272,000 nonfarm payrolls in May, surpassing the Dow Jones consensus estimate of 190,000. The unemployment rate rose from 3.9% to 4%, and the labor force participation rate decreased slightly to 62.5%. Biden calls it 'the great American comeback' and criticizes Congressional Republicans' economic plan. The strong job growth counters fears of a labor market slowdown and reduces the chance of the Federal Reserve lowering interest rates. Biden has been using the Dow's latest milestone to highlight his economic record and criticize former President Donald Trump. The Republican plan is accused of putting billionaires and special interests first and increasing inflation by repealing the Affordable Care Act.

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https://www.cnbc.com/2024/06/07/biden-cheers-may-jobs-report-slams-congressional-gop-economic-plan.html