There is no shortage of jobs in the United States.
The government reports that there were 10 million job openings by the end of June, and 8.7 million people remain unemployed.
Businesses have struggled to hire during the pandemic. Many people blamed the $300 supplemental weekly benefits from the federal government. According to Time, 25 states decided to opt-out of the federal benefit early. It is scheduled to expire on Sept. 6.
The unemployment rate in the U.S. is currently 5.4%.
President Joe Biden touted the .5% drop on Friday.
"While our economy is far from complete...what is indisputable now is this: The Biden plan is working, the Biden plan is producing results and the Biden plan is moving this country forward," he said.
The U.S. economy lost 22 million jobs in March and April of 2020 as the start of the pandemic resulted in nationwide shutdowns.