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President Biden said Friday he remains confident that his economic plans are working and that the U.S. is on the path to a full recovery, following the release of the May jobs report that came in slightly below expectations.

Driving the news: The U.S. economy added 559,000 jobs last month, while the unemployment rate fell to a pandemic-low 5.8%. Biden touted the report as "great news for our economy," while cautioning that "we're going to hit some bumps" along the path to a full recovery.

Between the lines: Democrats and Republicans are already using Friday's jobs report as a frame to either support or attack Biden's multitrillion-dollar spending plans, including his infrastructure proposal.

  • "Joe Biden and Democrats’ failed policies have given us another month where the economy fell short of expectations while Americans see prices for gas, groceries, and other essentials skyrocket," Republican National Committee chair Ronna McDaniel said in a statement.
  • Republicans have argued that generous unemployment benefits are keeping Americans from seeking jobs, but the bigger picture is more complex, as Friday's jobs report showed.

What he's saying: "No other major economy in the world is growing as fast as ours. No other major economy is gaining jobs as quickly as ours. And none of the success is an accident, it isn't luck," Biden said in remarks from the White House.

  • "Now is the time to accelerate the process we've been making. Now is the time to build on the foundation we've laid," he said, pointing to the $1.9 trillion COVID relief plan passed by Congress. "Because while progress is undeniable, it is not assured."
  • Biden seemed to acknowledge that the job numbers were lower than expected, saying, "We can't reboot the world's largest economy like flipping on a light switch. There's going to be ups and downs in jobs and economic reports."

Go deeper: Read Axios' breakdown of the May jobs report

Go deeper

Updated Sep 10, 2021 - Politics & Policy

Biden calls GOP governors "cavalier" for resisting vaccine requirements

President Biden speaks about coronavirus protections in schools during a visit to Brookland Middle School in Washington, D.C., Sept. 10. Photo: Saul Loeb/AFP via Getty Images

President Biden on Friday accused some Republican governors of being "cavalier" with children's health for resisting calls for implementing widespread coronavirus vaccine requirements.

Driving the news: Several Republican governors and the Republican National Committee on Thursday vowed to take the Biden administration to court over the president's plan to mandate COVID-19 vaccination or testing for more than 80 million private-sector employees.

Sep 10, 2021 - World

Inside Biden's call with Xi

Biden and Xi in 2013. Photo: Lintao Zhang/Getty Images

President Biden used a call with Xi Jinping on Thursday night to test whether personal diplomacy with the Chinese leader can make more progress than the meetings among subordinates, who have been snubbing and rebuffing Biden's aides.

Driving the news: The call was the first between Biden and Xi in seven months. Since Biden's election they had only spoken once previously, on Feb. 10.

3 hours ago - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.

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