Wednesday, August 4, 2021

U.S. economy has long way to go before recovering from pandemic slump: Biden

Reacting to a disappointing April jobs report, US President Joe Biden said that the American economy has a long way to go before recovering from the COVID-19 pandemic slump.

According to the report, US job growth unexpectedly slowed last month, likely restrained by shortages of workers and raw materials. The report added that the nonfarm payrolls increased by only 266,000 jobs, well below the nearly 1 million jobs economists expected in a sharp contrast to steady increases in growth from January to March.

US government has said that American President’s 1.9 trillion dollar pandemic relief package is helping to bring the economy back from its pandemic plummet, and they are pushing for another 4 trillion dollars in new investments. US President said that the report underscores the importance of the policies of his government.

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