March Employment Report Last Friday, the U.S. Department of Labor reported more than 916,000 Americans returned to work in March, surpassing expectations and marking the biggest jump in employment since the summer, as Americans get vaccinated and more states and cities allow businesses to reopen. The overall unemployment rate fell to six percent, indicating the U.S. economy is on track for record growth this year.
Fiscal Year (FY) 2022 Discretionary Request Released U.S. President Joe Biden released an outline of his $1.5 trillion budget request to Congress today (April 9) that would provide $769 billion for non-defense programs and $753 billion in national defense funding for FY 2022. The White House detailed discretionary spending levels that President Biden requests for each federal agency, along with information on the President’s investment priorities for programs dedicated to issues like clean energy, public health, education and helping disadvantaged communities. The Office of Budget and Management (OMB) is expected to unveil a more complete budget later this spring, including proposals for mandatory spending and tax reform.