After a better-than-expected May jobs report, Biden boasts about the 'great American comeback'.

• Joe Biden, the President, highlighted the May jobs report, proclaiming "the great American revival" and criticizing Congressional Republicans.
• In May, the U.S. economy experienced growth of 272,000 nonfarm payrolls, surpassing the Dow Jones consensus forecast of 190,000.
• In May, Biden seized the chance to criticize former President Donald Trump by referring to the Dow's recent achievement.

On Friday, President Biden highlighted the better-than-expected May jobs report and boasted about the "great American comeback," while criticizing Congressional Republicans' economic plan in his statement.

In May, the U.S. economy added 272,000 nonfarm payrolls, surpassing the Dow Jones consensus estimate of 190,000, while the unemployment rate rose to 4% and the labor force participation rate decreased to 62.5%.

"Under my leadership, 15.6 million more Americans have gained employment and experienced dignity and respect. Unemployment has been below 4% for 30 months, the longest stretch in 50 years. Additionally, a record high share of working-age women are now employed."

Despite concerns of a slow labor market, the robust job growth is likely to decrease the possibility of the Federal Reserve lowering interest rates in the near future.

Biden has utilized the recent milestone of the Dow's latest achievement in May to criticize former President Donald Trump while campaigning for the November election.

Friday's jobs statement took a similarly political tone.

"Biden stated that Congressional Republicans have a different vision, which prioritizes billionaires and special interests. According to Biden, the Republican plan would increase inflation by repealing the Affordable Care Act, supporting Big Oil to raise utility bills, allowing Big Banks to exploit Americans, and increasing the national debt by reducing taxes for billionaires."