Biden defends rescue package after disappointing jobs report | TheHill
May 07, 2021 1 min, 44 secs
President BidenJoe BidenAtlanta mayor won't run for reelection South Carolina governor to end pandemic unemployment benefits in June Airplane pollution set to soar with post-pandemic travel boom MORE on Friday defended his $1.9 trillion American Rescue Plan after a disappointing jobs report, arguing that the new data prove the necessity of the legislation and that it would take more time for the economy to recover. .

“Today’s jobs report is a disappointment—just like President Biden’s plan to burden families with more taxes & more debt,” tweeted House Minority Leader Kevin McCarthyKevin McCarthyLoyalty trumps policy in Stefanik's rise, Cheney's fall Cheney drama exposes GOP's Trump rifts Likely Cheney successor appears on Bannon show to tout GOP unity MORE (R-Calif.).

Today’s report makes clear, thank goodness we passed the American Rescue Plan.

Help is here and more help is on the way and more help is needed,” Biden said.

Biden rejected the notion that the enhanced unemployment benefits included in the rescue package diminished return to work in some categories when asked by a reporter at the end of his remarks.

Treasury Secretary Janet YellenJanet Louise YellenWaPo reporter: Treasury continuing recovery plan amid complaints of labor shortage, inflation Business groups target moderate Democrats on Biden tax plans On The Money: How demand is outstripping supply and hampering recovery | Montana pulls back jobless benefits | Yellen says higher rates may be necessary MORE told reporters at a press briefing later Friday that the extra unemployment benefits were not a factor in the slowdown in job growth. 

“When we look across states or across sectors or across workers, if it were really the extra benefits that were holding back hiring, you’d expect to see that either in states or for workers or sectors where the replacement rate for [unemployment insurance] is very high you’d expect to see lower job finding rates and in fact what you see is the exact opposite,” Yellen said

Yellen also argued that the jobs report was stronger than the headline number suggested and, like Biden, cautioned that it would be an arduous road to recovery. 

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