tv President Biden on September Jobs Reports CSPAN October 9, 2021 6:44am-7:00am EDT
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pres. biden: hello, folks. good afternoon. today, for the first time since march of 2020, the american unemployment rate is below 5%. in eight months, in the midst of a public health and economic crisis, the unemployment rate is down below 5% at 4.8%. let me repeat that. today's report has the unemployment rate down to 4.8%. a significant improvement from when i took office and assign a recovery is moving forward, even in the face of a covid pandemic.
that improvement -- that improvement was widespread. the unemployment rate for african americans fell almost a full percent. it is now below 8% from the first time in 17 months. a drop of 496,000 in long-term unemployment is the second largest drop since we started keeping records. the largest was in july. in the past three months we have seen a drop of 1.3 million long-term unemployed. the largest three-month fall in long-term unemployment since we started keeping records in 1948. more to do, but great progress. working americans are seeing their paychecks go up as well. in september, we saw one of the largest increases in average wages paid to workers, working americans on record. today's report comes one day after the labor department found in the third quarter of this
year the number of layoffs and job reductions was the lowest in this country since 1997. the unemployment report shows almost 200,000 jobs created last month. over 300,000 in the private sector, and 26,000 in manufacturing. offset by some seasonable adjustments in education hiring. a monthly total is bounced around but if you look at the trend, it is solid. 600,000 new jobs created every month since i took office. in three months before i got there, that was 1/10 what was being created. it was 60,000 as opposed to 600,000 jobs a month. the job creation in the first eight months in my administration was nearly 5 million jobs. jobs up, wages up, unemployment down. that is progress. it is a tribute to the hard work and resilience of the american people who are battling through
this pandemic, working to keep businesses afloat. remember, today's report is based on a survey that was taken during the week of september 13. not today. september 13. when covid cases were averaging more than 150,000 per day. since then we have seen the daily cases fall by more than one third. they are continuing to trend down. we are continuing to make progress. right now things in washington, as you know, are awfully noisy. turn on the news and every conversation is a confrontation. every disagreement is a crisis. when you take a step back and look at what's happening, we are making real progress. maybe it does not seem fast enough. i would like to see it faster. maybe it does not appear dramatic enough. i would like to move it faster. we are making consistent, steady progress. thanks to bipartisan agreements, we are making progress on
funding the government and raising the debt limit so people continue to get their social security checks, military continues to get paid, and so much more. we are making real progress on covid-19 as well. more than 186 million americans are now fully vaccinated. more than 75% of eligible americans have gotten at least one shot. covid cases are down 40% in the past month. hospitalizations are down over 25%. in july, when i announced the first vaccination requirement, about 95 million eligible americans still had not been vaccinated. today, we reduce that from 95 to 67 million americans who have not been vaccinated. that is still too much. there is more work to do, including getting more people vaccinated.
we continue to make progress. the american rescue plan, which we passed shortly after i was elected, we have made progress providing rent and mortgage help to keep groups over people's heads. we provided checks in pockets and other benefits. hundreds of thousands of loans to help small businesses stay open and keep employment -- employees on the job and getting paid. today, towns and cities and states that were at risk of losing hundreds of thousands of jobs before me because i did not have the budget to pay, we helped make the payroll for them to keep teachers, police officers, firefighters, essential workers on the job. helping schools stay open with the equipment and resources needed to keep students and educators safe. we finally gave a tax break to families with children. which as i speak is providing monthly checks for more families with 60 million children. $300 per month for every child under the age of seven. $250 a month every child under
17. keeping the tax-cut -- it's a tax cut for these people. cutting child poverty nearly in half. over 40%. we are making progress protecting our air and water as well. there is much more to do. i will have more to say about that later today. the jobs numbers remind us we have important work ahead of us. we have important work ahead of us and important investments we need to make. america is still the largest economy in the world. still have the most productive workers and most innovative minds in the world but we risk losing our edge as a nation if we don't move. our infrastructure used to be the best in the world stop today , the united states of america ranks 13th in the world. we are among the first in the world to guarantee access to universal education at the turn of the 20th century. now, we are ranked 35 out of 37 major economies when it comes to
investing in early childhood education. 35 out of 37. we have taken our foot off the gas in the world has taken notice. now they are closing the gap. it's essential that we have to regain the momentum we lost. as my wife says all the time is any country who out educates us will outcompete us. our work is to prayer -- is to prepare to win the fast-changing 21st century global economy. that's why i wrote to critical pieces of information being debated in washington now. one focuses on the investments
we need to make the physical infrastructure of america, the second focus is on the investments we need to make in the american people to make us more competitive. i know this is my legislation and i feel strongly it out of the people who have the most at stake are the american people. we need to stay focused on what these goals will mean to the people who are just looking for a little bit of breathing room, fair chance to build a decent middle-class life, to succeed and thrive instead of just hanging on by their fingernails. we need to keep an eye on what's fundamentally at stake for our country, the ability to compete and win the race of the 20 first century. a race other countries are doing to win. in recent years, china has spent around three times as much on infrastructure. our infrastructure will makes investments we need to rebuild
the arteries of air economy, the roads, the highways, the ridges, the words, the air within the rails and it will allow us to replace lead water pipes which are poisoning our children and families. it's ridiculous. build a modern energy grid to withstand storms and send energy across america. make high-speed internet affordable and available everywhere in america and create good union jobs in the process of putting that together. we will make the largest investment in public transit in american history. we will make the most of investments in our real system since amtrak did it 50 years ago but it's not enough just to invest in physical infrastructure. we will lead the world like we used to and if we do that can we have to invest in our people. that's what my second bill does come of the build back better plan. only about half of the three and four-year-olds in america are
enrolled in early childhood education. in germany, france, the u.k. and latvia, that number is more than 90%. we are falling behind. it's not just early education. according to
one study, america ranks 33rd out of the 44 advanced economies when it comes to the percentage of our young people who retain a post-high school degree. the united states, 33rd out of 44? might build back better plan gets us back on track to making four additional years of public education available for everyone in america. two years of quality pre-k in the front of school without interruption and investments in community college so our students can gain the skills they need and carve out a place for themselves in the 21st century economy.
we will help build families. we will help them afford to care for their new baby, a child, an elderly relative. it will extend the tax credit for families with children. it will help us meet the moment on climate change and become a global leader in the fast-growing clean energy industry like solar and wind power. the whole world knows that the future of the auto industry is electric. battery technology as well. we need to make sure america builds that future instead of falling behind. we should build those vehicles and the batteries that go into them and the charging stations they will need, the 500,000 we will build across america. here in the u.s. we should be doing this. if we get this done, we will
breathe new life into the economy and breathe cleaner air at the same time. these are the kinds of investments that will get america back in the game and give our workers a chance, a fighting chance stop economists agree that earlier this year, moody's and wall street projected that the investments bill will bring us a higher gdp an additional 2 million jobs per year and more employment. this is not about left versus right or modern versus progressive or anything else pitches americans against one another, these bills are about can edited miss versus complacency, competitiveness versus complacency, opportunity versus dk. -- opportunity versus dk -- decay. they are about leading the world or whether we will let the world pass us by. the american people understand
what's at stake. they understand that when workers and families have a better shot, america has a better shot. the american people have never let the country down. today, there is more evidence of the progress we are making and we can make more in the days ahead. i want to thank you and god bless you all and may god protect our troops, thank you very much. >> c-span is your unfiltered view of government. we are funded by these television companies, including comcast. >> you think this is just a
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