After running through the generally positive numbers released a few hours earlier by the Labor Department's Bureau of Labor Statistics, Biden gave the report a final promising spin, but he misspoke:
2021-06-03 17:05:25 GMT2021-06-04 01:05:25(Beijing Time) Xinhua English
WASHINGTON, June 3 (Xinhua) Initial jobless claims in the United States dropped for a fifth straight week to 385,000, marking the first time the figure dipped below 400,000 since the COVID-19 pandemic ravaged labor market early last year, the Labor Department reported Thursday.
In the week ending May 29, the number of Americans filing for unemployment benefits decreased by 20,000 from the previous week s downwardly revised level of 405,000, according to a report released by the department s Bureau of Labor Statistics.
This is the lowest level for initial claims since March 14, 2020 when it was 256,000, the report noted.
2021-05-08 08:35:47 GMT2021-05-08 16:35:47(Beijing Time) Xinhua English
WASHINGTON, May 7 (Xinhua) U.S. employers added 266,000 jobs in April, with the unemployment rate hardly changed, indicating new signs of a stalling labor market recovery, the Labor Department reported on Friday.
The job growth in the United States in March was reduced by 146,000 to 770,000, while the figure for February was up by 68,000 to 536,000, according to the monthly employment report.
The unemployment rate of 6.1 percent changed little in April as compared with that of last month, which remained well above the pre-pandemic level of 3.5 percent.
The labor force participation rate was 61.7 percent in April, which is slightly up from that of 61.5 percent in March, and is still 1.6 percentage points lower than that of February last year.
By Susan Jones | May 7, 2021 | 7:49am EDT
The travel industry is among those making a comeback from the darkest days of the COVID pandemic. (Photo by DANIEL SLIM/AFP via Getty Images)
(CNSNews.com) - Friday s jobs report reflects a reopening economy that still has a long way to go to match its Trump-era strength.
Contrary to bullish expectations, the unemployment rate actually ticked up a tenth of a point to 6.1 percent in April, and the economy added 266,000 jobs, far fewer than the 770,000 (revised) added in March and the 536,000 added in February.
Notably, the number of employed Americans increased in April for the 12th consecutive month since the economy tanked under COVID pressure in April 2020. Last month, BLS said 151,176,000 Americans were employed. That is 318,000 more than in March, and 1,145,000 more than when Joe Biden took office in January.
Domestic indices ended with decent gains on Friday amid positive global cues. The Nifty managed to close above the 14,800 mark after slipping below that level in intraday trade. PSU banks corrected while metals stocks extended rally on improved sectoral outlook.
The S&P BSE Sensex, rose 256.71 points or 0.52% to 49,206.27. The Nifty 50 index gained 98.35 points or 0.67% to 14,823.15.
The Sensex has risen 1.97% and the Nifty has climbed 2.25% in three consecutive sessions.
Global stock market advanced as investors welcomed an encouraging private jobs report from the United States that reinforced optimism that the world s top economy is well on the recovery track. The White House s support for a global waiver on patent protections for Covid-19 vaccines also cheered investors.