Biden Touts Big October Jobs Report

The US economy is recovering post-Delta variant, with October seeing a historic addition of 531,000 jobs and a wage increase of 4.9%. The unemployment rate has dropped to 4.6% from 6.3% in January, marking significant progress. The administration has created 5.6 million jobs in nine months, a record for a new president. Unemployment claims have decreased by over 60% since the start of the term, reaching the lowest level since the pandemic began. The economy is showing strong signs of movement and recovery.

What trend was observed in new unemployment claims since the administration took office?

What does the report suggest about the state of the economy?