Biden on disappointing jobs report: 'We knew this wouldn't be a sprint, it'd be a marathon'

President Joe Biden said Friday the US economy is “moving in the right direction” but there is still a long way to go after a disappointing Friday jobs report fell well below expectations.

“We knew we were facing a once-in-a-century pandemic and a once-in-a-generation economic crisis. We knew this wouldn’t be a sprint, it’d be a marathon,” Biden said, speaking from the White House.
He continued: “Quite frankly, we’re moving more rapidly than I thought we would.”
    The President said the US is still “digging out of an economic collapse,” and that the $ 1.9 trillion Covid-19 emergency relief law he signed into law was designed to help the nation “over the course of a year.”
      “We never thought that after the first 50 or 60 days everything would be fine,” Biden said.
        The US economy added only 266,000 jobs in April, which was far less than the 1 million jobs economists had predicted. Experts had had forecast that the national rollout of Covid-19 vaccines and the reopening of the economy would jolt hiring.
          The unemployment rate rose to 6.1% in April, up from 6% a month earlier, as more people returned to the labor force to look actively for work, the Bureau of Labor Statistics said Friday. The March jobs numbers were also revised down to 770,000 from the 916,000 that was initially reported.
            This story is breaking and will be updated.

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