With the latest gains, the world’s largest economy has added 3.3 million jobs in the first six months of the year.
President Joe Biden. Pic/AFP
President Joe Biden on Friday cheered the “historic” US rebound from the Covid-19 crisis as the economy gained 8,50,000 new jobs in June, cementing the evidence of a broad recovery.
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The uptick was better than expected and came after two months of disappointing results, buoyed by big increases in the hard-hit leisure and hospitality sector, the Labour Department said in its closely watched monthly report.
With the latest gains, the world’s largest economy has added 3.3 million jobs in the first six months of the year.
“This is historic progress, pulling our economy out of the worst crisis in 100 years,” Biden said at the White House.
The Democratic president credited the massive American Rescue Plan approved in March and the rapid acceleration of vaccinations as factors fuelling the economic revival.
The unemployment rate last month ticked up to 5.9 per cent from 5.8 per cent in May, the data showed, and the jobless rate for Black workers rose a tenth of a point to 9.2 per cent.
The data also showed the economy is still short of 6.8 million jobs compared to February 2020.
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