"November Employment Report is a Grim Outlook" Biden Emphasizes Passing Economic Stimulus Bill

November Employment Disappoints Expectations; Statement and Press Conference
"Without Stimulus Bill, Severe Hardship Expected"
Speaker Pelosi: "Negotiations Are Hopeful"
White House: "V-Shaped Recovery Continues Under Trump"
Progressive Democrats Call for Direct Cash Payments

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] President-elect Joe Biden called the November employment report, which showed a slowdown in labor market recovery, a "bleak report" on the 4th (local time) and urged Congress to pass a stimulus package.

In a speech in Wilmington, Delaware, Biden said, "The situation is urgent. If we do not act now, the future will be dark," expressing hope for the swift passage of a stimulus bill.

Earlier, in a statement, Biden also evaluated the November U.S. job statistics by saying, "It confirms that we are in the midst of one of the worst economic and job crises in modern history."

On the day, the Department of Labor announced that nonfarm payrolls increased by 245,000 in November, marking the seventh consecutive month of growth, but this was only about half of the 460,000 increase forecasted by experts compiled by Dow Jones. U.S. media unanimously reported this as evidence of a slowdown in employment recovery.

The New York Times reported that a conservative official from the U.S. Chamber of Commerce referred to the Labor Department's employment report as "a warning that Congress needs to compromise quickly."

When asked whether Biden had spoken with Senate Minority Leader Mitch McConnell, who holds the 'key' to negotiations, he did not respond but expressed hope for Republican participation in the talks.

Biden said that Republicans also need to cooperate with his administration to pass other bills, expecting that "(COVID-19) patients surging will make them recognize the absolute necessity." He also warned, "If we don't do that, the country will become very impoverished."

Democratic House Speaker Nancy Pelosi spoke positively about the stimulus bill negotiations when meeting with reporters that day.

Speaker Pelosi said, "Our hope is that this is the last train leaving the station," and argued that there is "enough time to reach an agreement before the federal government’s temporary budget expires on the 11th." Pelosi had spoken with Senate Minority Leader Mitch McConnell a day earlier.

Unlike Biden’s camp, the White House claimed that the employment figures released that day are an example of a 'V-shaped' rapid economic recovery.

White House Deputy Press Secretary Judd Deere tweeted that despite economic activity restrictions by state and local governments, under President Donald Trump’s leadership, a 'super V' recovery continues.

Progressive forces such as Sanders and AOC demand $1,200 weekly cash payments

Meanwhile, progressive forces within the Democratic Party emerged as a variable by opposing the bipartisan $908 billion stimulus bill proposed that day. They demanded direct cash payments to the public, which had been implemented previously.

Senator Bernie Sanders, who ran in the Democratic presidential primary, issued a statement opposing the bipartisan stimulus bill and demanded weekly $1,200 checks. The bipartisan bill aims for a negotiated settlement and has excluded cash payments due to its reduced scale.

Alexandria Ocasio-Cortez, a New York congresswoman representing the young progressive forces, positively evaluated the bipartisan stimulus bill vote but emphasized the need for direct financial support to the public.

According to NBC, Biden also responded to reporters' questions about cash payments at a press conference, saying, "I would also like to see $1,200 cash payments," and mentioned that "(cash payments) remain a possibility," indicating a willingness to consider direct cash payments through additional stimulus bills.