You are currently viewing Is Biden Right About a Recession? The July Jobs Report Suggests Yes.

The strong jobs report was welcome news for President Biden, who has insisted in recent weeks that the United States is not in recession, even though it has suffered two consecutive quarters of economic contraction.

But the report also defied even the president’s own optimistic expectations about the state of the labor market — and appeared to contradict the administration’s theory of where the economy is headed.

Mr. Biden celebrated the report on Friday morning. “Today, the unemployment rate matches the lowest it’s been in more than 50 years: 3.5 percent,” he said in a statement. “More people are working than at any point in American history.”

He added: “There’s more work to do, but today’s jobs report shows we are making significant progress for working families.”

The president has said for months that he expects job creation to slow soon, along with wage and price growth, as the economy transitions to a more

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