{"id":1502555,"date":"2022-06-03T12:49:58","date_gmt":"2022-06-03T16:49:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502555"},"modified":"2022-06-03T12:50:06","modified_gmt":"2022-06-03T16:50:06","slug":"biden-tries-to-calm-recession-fears-in-remarks-on-jobs-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-tries-to-calm-recession-fears-in-remarks-on-jobs-report\/","title":{"rendered":"Biden Tries To Calm Recession Fears In Remarks On Jobs Report"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-tries-to-calm-recession-fears-in-remarks-on-jobs-report%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1502555&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>President Joe Biden aimed to calm fears of a possible recession in his remarks about the May jobs report Friday.<\/p>\n<p>The U.S. economy added 390,000 jobs in May while the unemployment rate remained at its previous 3.6%, the\u00a0Bureau of Labor Statistics (BLS) <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/empsit.pdf\">report<\/a> showed. The May jobs report coincides with growing fears of a possible <a href=\"https:\/\/dailycaller.com\/2022\/05\/31\/joe-biden-inflation-trafalgar-russia-ukraine-spending\/\">recession<\/a> \u2014 a point Biden tried to shrug off in his morning remarks.<\/p>\n<p>\u201cWe\u2019ve laid an economic foundation that\u2019s historically strong, and now we\u2019re moving forward to a new moment where we can build on that foundation to build a future of stable steady growth, so we can bring down inflation without sacrificing all the historic gains we\u2019ve made,\u201d the president, speaking from Delaware, said after touting the \u201c<span id=\"subtitle2\" class=\"subtitle selfragment\" data-id=\"2\" data-start=\"1388220\" data-end=\"1391162\">excellent job reporting on<\/span> <span id=\"subtitle3\" class=\"subtitle\" data-id=\"3\" data-start=\"1391162\" data-end=\"1394250\">employment remaining near historic lows.\u201d<\/span><\/p>\n<p>Biden tried to rally spirits, telling the nation that \u201cthere\u2019s every reason for the American people to feel confident that we\u2019ll meet these challenges.\u201d He also said there\u2019s been \u201cenormous progress\u201d made \u201con the economy.\u201d<\/p>\n<p><strong>WATCH:<\/strong><\/p>\n<p>While acknowledging sky-high prices around the U.S., the president argued that the latest jobs report indicates the country is able to conquer inflation concerns. <strong><a href=\"https:\/\/dailycaller.com\/2022\/05\/24\/new-home-sales-plummet-recession-fears\/\">(RELATED:\u00a0New Home Sales Plummet, Sparking Recession Fears)<\/a><\/strong><\/p>\n<p>\u201cWe aren\u2019t likely to see the kind of blockbuster job reports month after month like we had over this past year, but that\u2019s a good thing,\u201d Biden said. \u201cThat\u2019s a sign of a healthy economy, with steady growth, rising wages for working families, everyday costs easing up and shrinking the deficit. That stability puts us a strong position to tackle what is clearly a problem: Inflation.\u201d<\/p>\n<p>Biden reiterated that \u201cfighting inflation\u201d is his \u201ctop economic priority\u201d before moving on to discuss efforts he said will bring down costs for families. Biden also continued to blame <a href=\"https:\/\/dailycaller.com\/2022\/05\/30\/gas-prices-hit-another-record-high\/\">increased<\/a> gas prices and <a href=\"https:\/\/dailycaller.com\/2022\/02\/16\/economy-farmers-inflation-grocery-bill-skyrocket-supply-chain\/\">grocery<\/a> stores costs on Russia\u2019s invasion of Ukraine, echoing the now-familiar \u201cPutin\u2019s Price Hike\u201d tagline.<\/p>\n<p>\u201cBoth of these challenges have been directly exacerbated by Russia\u2019s war in Ukraine,\u201d Biden said.<\/p>\n<p>Tesla CEO Elon Musk was the latest high-profile individual to address the economy, <a href=\"https:\/\/www.reuters.com\/technology\/exclusive-musk-says-tesla-needs-cut-staff-by-10-pauses-all-hiring-2022-06-03\/\">telling<\/a> Reuters in an email that he has a \u201csuper bad feeling\u201d about it. Musk also called for a \u201cpause [on] all hiring worldwide\u201d amid said fears.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden aimed to calm fears of a possible recession in his remarks about the May jobs report Friday.The U.S. economy added 390,000 jobs in May while the unemployment<\/p>\n","protected":false},"author":125,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1502555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1502555"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1502555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1502555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1502555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1502555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}