Pelosi says ‘disappointing’ jobs report calls for more government spending

From WWW.FOXBUSINESS.COM

House Speaker Nancy Pelosi, D-Calif., said she was disappointed by the April jobs report and called for the federal government to respond by passing President Biden’s spending plans.

The April jobs report released Friday showed the US economy heavily missed Wall Street’s mark, adding a measly 266,000 new jobs as the country continues to recover from the COVID-19 pandemic.

The unemployment rate also unexpectedly rose to 6.1%. While it’s still well below the April 2020 peak of 14.7%, it’s about twice the precrisis level, the Labor Department said in its monthly payroll report, released Friday morning. Economists surveyed by Refinitiv expected the report to show that unemployment fell to 5.8% and the economy added 978,000 jobs.

Pelosi called the April numbers “disappointing” but presented a solution to the lack of jobs created in America over the past month: spending more by passing Biden’s two multitrillion dollar spending packages.

“The disappointing April jobs report highlights the urgent need to pass President Biden’s American Jobs and Families Plans,” the speaker said in a Friday statement. “We need to take bold action to Build Back Better from this crisis by investing in our nation, our workers and our families.”

Pelosi said House Democrats are “already at work developing strong jobs legislation” to create “millions of good-paying jobs revitalizing our nation’s infrastructure and laying the foundation for a generation of economic growth.”

“As we see continued evidence that women and working parents have been hit hardest in the economy, we mus… (Read more)