today, we received great news for our economy and our recovery and for the american people. This morning, we learned that in May Our economy created 559,000. New jobs, Unemployment rate fell to 58 and wages went up for american workers. That means we have now created over two million jobs in total since I took office, more jobs than ever been created in the first four months of any presidency in modern history, Triple the rate of my predecessor. eight times the rate of President Reagan. The unemployment rate is now below 6% for the first time since the pandemic kit. The 1st 14 months. First time. First time in 14 months, we saw the largest decline in the number of long term unemployed more than more than an entire decade in the last 10 years. Long term unemployment drop by the second largest amount ever recorded. Not only that, but the signs of further progress are already here. This report is based on a weekly uh a week in early May. That's how we did they determine the the job growth or loss we have growth? And that was in this, that week. In May, we only had 35% of working age adults have been fully vaccinated. Now we're still all, they were still on worrying mask. Since then, 21 million more adults have gotten vaccinated, making it easier for them to return to work safely. In short, This is progress, historic, progress, progress, that's pulling our economy out of the worst crisis has been in 100 years. And it's testament to the new strategy that is growing this economy, not only growing up growing from the bottom up in the middle out. Remember when I took office in january, our economy was in a tailspin job growth installed. COVID was raging. Average. Initial claims for unemployment insurance were over 830,000 per week. Now those claims have fallen below 430,000, about half of what they were. When I took office before I took office, Almost 24 million Americans are going hungry. Remember those long lines of cars, miles long, people waiting for just a box of food to be put in their trunk? That number has already dropped by 25%. Still too many but clear progress before I took office. Independent experts were projecting That the American economy would grow by three or 4% in 2021 this year. This week the Organization of Economic Cooperation and Development, the so called O E C. D, which makes up a group, includes the most the world's largest economies and its membership And has been one of the leading bodies analysing economic growth worldwide and individual nations increase the projection for us economic growth this year to 6.9% in 2021. That's the fastest pace in nearly four decades. In fact, the US. is the only major economy where projections of future growth are stronger today than they were before the pandemic hit in 2020 And in May, manufacturing activity was nearly as strong as it was in more than 15 years, stronger than 15 years. No other major economies. A major economy in the world is growing as fast as ours. No other major economies gaining jobs as quickly as ours and none of this success is an accident. It isn't luck is due in no small part. First of all, the cooperation of the american people and responding to my effort to get covid under control wearing mask initially and getting vaccinated. And it's no small part to the bold action we took bypassing the american rescue plan. The plan provided those resources that get shots in people's arms. Underwrite the vaccination effort, enough vaccine supply for every single american, more vaccinators, people to put shots in the arms and more vaccination sites. And now 52% 52% of American adults are fully vaccinated, 75% of our seniors are fully vaccinated and the american rescue pan plan delivered economic benefits directly to the american people. Because of that law, more than 167 million of those rescued payments of up to $1400 have gone out to individual families. A recent study, the Census Bureau data found just how much these checks mattered. They drastically reduced to reduce depression, according to the study anxiety and hardship for families. More than 40% fewer families struggle to afford food, rent, utilities, car payments, student loans and health care expenses. Small businesses and restaurants are we're getting killed now we're delivering loans and support they need to reopen and to stay open. Schools are struggling to reopen. So we made vaccinating teachers of priority. We delivered schools the much support they needed. State and local governments had to lay off tens of thousands of educators and first responders. Many are now back on the job. Thanks to the rescue plan. In fact, in May, state and local governments added 103,000 education jobs return them to work. These funds are continuing to get out this month to support state and local governments, which will help get more people back to work. Small and medium sized businesses are now able to take advantage of a special tax credit called the employee retention tax credit. It provides businesses a generous tax credit to retain or hire more workers through our restaurant revitalization fund. We anticipate being able to help over 100,000 hard hit restaurants stay open or reopened and beginning next month, most families with Children are beginning a tax cut, which would be going to deposit into their accounts directly into the bank accounts every month. We know that access to child care is one of the biggest barriers in the way of parents going back to work. Our administration is delivering $39 billion dollars in childcare relief to help childcare providers get back on their feet the providers And serve more families. And this month our economy added nearly 20,000 more childcare jobs that weren't there last month. In fact, allowing parents to have access to get help and temporary boost and unemployment benefits that ended that we enacted, I should say, help people lost their jobs through no fault of their own And who still may be in the process of getting vaccinated, but it's gonna expire in 90 days. That makes sense. It expires in 90 days. To sum it up. Look, covid cases are down, Covid deaths are up, unemployment filings are down, hunger is down and vaccinations are up, jobs are up, wages are up, manufacturing is up, growth is up, People gaining health care coverage is up and small business confidence is up. America is finally on the move again. As we continue this recovery, we're gonna hit some bumps along the way. Of course that will happen. We can't reboot the world's largest economy, like flipping on a nice light switch, There's gonna be ups and downs and jobs and economic reports, but we're going to be a supply chain issues and price pressures on the way back to stability and steady growth. in the coming weeks, my administration is going to take steps to combat these supply constraints, building on the work we're doing on the computer chips. That is we're providing more computer chips to be manufactured here in the United States. So it doesn't slow up the manufacturing of automobiles, for example. Everyone needs to get their shots though. Now is the time to accelerate the process we've been making now is the time to build on the foundation we have laid, because all the progress is undeniable. It is not assured. That's why I proposed the american jobs plan and the americans family plan for generational investments we need today, we need to make those investments today to be able to continue to succeed tomorrow. We have a chance to seize on the economic momentum of the first months of my administration, not just to build back, but the build back better. This much is already clear. We're on the right track. Our plan is working and we're not going to let up now. We're going to continue to move on. I'm extremely optimistic. I hope you are as well. And uh, may God bless you and May God bless America, May God protect our troops, Thank you all for being here.