Weak Jobs Report Spurs New Arguments Over Big Fed Spending
WASHINGTON (AP) — President Joe Biden insists an unexpected slowdown in companies’ hiring is clear new proof the U.S. needs the multitrillion-dollar federal boost he’s pushing.
But his sales effort is challenged by critics who say Friday’s jobless figures show his earlier aid legislation — successfully rushed through Congress — is actually doing more harm than good.
The government report seemed to show that the U.S. economy is not so much accelerating as stutter-stepping along, as the unemployment rate ticked up to 6.1%.
Economists had projected roughly one million added jobs last month. And the modest 266,000 indicated that Biden's earlier $1.9 trillion coronavirus relief package has not provided a boost.