President Biden lauded the Labor Department’s December jobs report as proof his economic blueprint has put the country on the right track.
Employers added 223,000 jobs last month, suggesting the economy, while cooling, remains resilient in the face of the Federal Reserve’s interest rate hikes meant to curb inflation.
The unemployment rate fell from 3.6% to 3.5%, matching a 53-year low, Labor Department figures published Friday show.
Mr. Biden said all signs point to steady and stable growth going forward.
“We still have work to do to bring down inflation and help American families feeling the cost-of-living squeeze,” the president said Friday.