Biden says his work to bring back the economy 'seems to be working a little bit' after it added 850,000 jobs in June
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- After the June jobs report, Biden said his work to bring back the economy "seems to be working a little bit."
- He cited his stimulus plan as a driving force behind an economic comeback after the pandemic.
- Biden is promoting his bipartisan infrastructure plan which aims to further boost the economy.
- See more stories on Insider's business page.
The Friday jobs report exceeded expectations by adding 850,000 payrolls, more than economists had estimated. President Joe Biden cited the data as proof that his efforts to revive the economy are working.
When asked if he thinks Congress will enact his infrastructure plans, Biden said, "Look, all I know - only thing I know what to do - and I really mean this - is do my best to lay out what I think the country has to do, try to be as persuasive as I can, and hope." Then he pivoted back to describing the state of the economy: "And thus far, it seems to be working a little bit."
-President Biden (@POTUS) July 2, 2021
In the press briefing, Biden referred to his American Rescue Plan multiple times as a primary driving force behind the country's economic recovery. His $1.9 trillion stimulus gave Americans a third round of $1,400 stimulus checks along with extended $300 weekly unemployment benefits, among other things. He said it's "strengthening our financial position, and it grows our economy."
The president also pointed to his infrastructure plan as more legislation that would stimulate the economy. Last week, he reached an agreement with a group of 10 bipartisan senators on a near $1 trillion infrastructure plan. It may be followed by a larger multitrillion-dollar plan that passes along party lines, using the reconciliation process.
Other Democratic lawmakers joined Biden in crediting the stimulus plan for the added payrolls in June. Senate Majority Chuck Schumer wrote on Twitter on Friday that quick action from Senate Democrats and Biden to pass the American Rescue Plan "shows that our economy is roaring back as a result!"
At least one top Republican suggested other reasons for recovery. Chuck Grassley, ranking member on the Senate Judiciary Committee, wrote on Twitter that President Donald Trump's 2017 tax cuts were behind June's job growth and the economy reviving "after a virus interlude."
-ChuckGrassley (@ChuckGrassley) July 2, 2021
Experts have pointed to the leisure and hospitality sector as a key driver of economic recovery, given that it alone is responsible for 343,000 added payrolls. Workers in the space are also seeing higher wages, a sign of economic progress that Biden highlighted.
"More jobs, better wages - that's a good combination," Biden said during his remarks. "Put simply: Our economy is on the move, and we have COVID-19 on the run."
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