Home Business The US economy added more jobs than expected in April, with 428,000...

The US economy added more jobs than expected in April, with 428,000 jobs


American companies continued to hire in large numbers in April, while President Joe Biden praised the strength of the labor market as a result of his economic policy.

Despite rising costs due to chronic labor shortages and inflation recordcompanies have secured 428,000 new jobs, in particularly in the services, manufacturing and transportation sectors that have been most affected by the “Covid” epidemic, according to data from the United States Department of Labor.

The result exceeded analysts’ expectations, who estimated the addition of 395,000 new jobs.

In two years, the US economy has recreated about 95% of the 22 million jobs lost due to the “Covid” pandemic, which paralyzed economic activity and plunged the United States. in a deep recession starting in the spring of 2020.

“Our political actions have created the most jobs in modern times,” said President Joe Biden in a statement, adding that “the drop in the unemployment rate is the fastest in absolute at the beginning of a presidential term “.

The unemployment rate remained at 3.6 percent, hitting the rate recorded in February 2020, before the outbreak of the epidemic, and in that moment stood at 3.5 per cent, the lowest level since 1969.

The Ministry of Labor said in a statement that the number of unemployed in April remained “broadly unchanged at 5.9 million”.

The US administration hopes to create more than 4 million job opportunities questyear and the unemployment rate will drop to 3.3% by the end of the year.

According to a Department of Labor survey released this week, there were more than 11 million jobs available in the country in March, a number record.

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