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Business News/ News / World/  Unemployment rate near record low, Joe Biden government ‘delivering historic results’
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Unemployment rate near record low, Joe Biden government ‘delivering historic results’

With the record low for the US unemployment rate being at 3.5%, the latest data on November 30 shows it is at 3.7%.

US President Joe Biden and First Lady Jill Biden arrive alongside US Vice President Kamala Harris (2nd R) and her husband Doug Emhoff (R) to attend the Kennedy Center Honors at the Kennedy Center in Washington, DC, December 4, 2022, as they honor actor George Clooney, Christian singer Amy Grant, singer Gladys Knight, composer Tania Leon and Irish rock band U2. (Photo by SAUL LOEB / AFP) (AFP)Premium
US President Joe Biden and First Lady Jill Biden arrive alongside US Vice President Kamala Harris (2nd R) and her husband Doug Emhoff (R) to attend the Kennedy Center Honors at the Kennedy Center in Washington, DC, December 4, 2022, as they honor actor George Clooney, Christian singer Amy Grant, singer Gladys Knight, composer Tania Leon and Irish rock band U2. (Photo by SAUL LOEB / AFP) (AFP)

US President Joe Biden has claimed that, with the unemployment rate near a record low, his government is “delivering historic results". “The economy added 263,000 jobs and wages rose in November. And the unemployment rate is near a record low. We’re delivering historic results for the American people," Biden tweeted earlier.

Following the release of fresh data showing a healthy increase in employment, Biden claimed last week that things were headed in the "right direction".

With the record low for the US unemployment rate being at 3.5%, the latest data on November 30 shows it is at 3.7%. The rate reached a record high of 14.7% in April 2020 at the peak of the coronavirus pandemic, when the economy came to a halt.

The tweet comes in the midst of speculations that Biden may seek a second term at the White House. Biden is having the finest time of his whole first term while his rival Donald Trump launches his own scandal-plagued 2024 presidential campaign. Things seem promising for Biden from a political standpoint. But, whether Biden runs for office again will be decided by his doctors and family, not by political commentators.

For the time being, the economy is disproving dire recession predictions. Massive spending bills approved by Congress during Biden's first two years in office are now starting to flow, funding both modern infrastructure like roads and bridges as well as high-tech industry like semiconductors and green energy.

The US-led coalition's success against Russia in Ukraine after almost ten months helps the world move past the disappointment of Afghanistan. Biden recently received the prosperous and opulent state visit of French President Emmanuel Macron at the White House.

The shuffling gait, the occasionally disinterested facial expressions and the occasional awkward verbal hiccups are all signs of ageing that Biden exhibits at the age of 80. At the publication of his official annual physical, Americans will receive a more scientific overview. Biden was deemed fit to carry out the responsibilities of the presidency a year ago by the White House doctor.

(With agency inputs)

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ABOUT THE AUTHOR
Sounak Mukhopadhyay
Sounak, spinning the digital news scene since 2012, crafts trendy articles for LiveMint.
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Published: 06 Dec 2022, 09:30 AM IST
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