Biden on jobs numbers, falling gas prices: 'The program is working'

Delivering remarks at the White House, President Biden spoke about falling gas prices and the June jobs report, which showed that 372,000 jobs were added and the unemployment rate held steady at 3.6%. Biden said that progress is being made and "the program is working."

Video Transcript

JOE BIDEN: Today the Labor Department reported that we added 372,000 jobs last month, 372,000. Here's why it's important. Our private sector has now recovered all of the jobs lost during the pandemic and added jobs on top of that. We have more Americans working today in the private sector than any day under my predecessor, more today than any time in American history, today.

In the second quarter of this year, we created more jobs than any quarter under any of my predecessors in nearly 40 years before the pandemic. Think about that. At a time when our critics said the economy was too weak or having already added more jobs-- and we had already added more jobs in my first year as president of any president in history, we still added more jobs in the past three months than any administration in nearly 40 years.

Now, look, I know times are tough. Prices are too high. Families are facing a cost of living crunch. But today's economic news confirms the fact that my economic plan is moving this country in a better direction.

The unemployment rate is near a historic low of 3.6%. Private sector jobs are at a record high. Gas prices, still way too high, have fallen now 25 days in a row. And this week, we saw the second largest single day decrease in gas prices in a decade.

We still have a lot of work to do. I'm not suggesting there's a lot more work to do. But I am suggesting we're making significant progress. The program is working.