Washington (AP) — President Joe Biden is assuring the nation that the U.S. economy is chugging along.
But along with his upbeat words on Friday, a new jobs report showed that high inflation remains a threat.
At the White House, the president signed a bill to avoid a rail strike that he said could have caused 765,000 job losses in two weeks and plunged the country into recession. But many voters and economists already fear that a downturn is nigh and that the price of reducing inflation will be layoffs.
Biden pointed to the addition of 263,000 jobs and the unemployment rate holding steady at 3.7% last month as proof that his policies have bulked up the economy.
