US Capitol BuildingMOSCOW, 28 Apr. The U.S. economy based on working families remains resilient in the face of historic challenges, U.S. President Joe Biden said as he commented on data released on Thursday that the country's GDP fell by 1.4% in the first quarter of 2022. «In the past quarter, consumer spending, investment in business and investment in housing grew at a high pace, «- follows from Biden's statement released by the White House. Among the factors negatively affecting the economy, the American president singled out the coronavirus pandemic, Russia's special operation in Ukraine and global price increases. Biden also said, that the number of Americans receiving unemployment benefits remains at its lowest level since 1970. with RussiaAccording to the US Department of Labor, the number of new applications for unemployment benefits for the week to April 23 fell by five thousand thousand compared to the previous week and amounted to 180 thousand. In total, according to US statistics, 1,408,000 Americans receive unemployment benefits. In his statement, Biden noted that he plans to meet with small businesses today. «We must continue to make progress — reduce costs for working families, do more in America and create well-paying jobs where you can raise a middle-class family,» he added. The US economy contracted 1.4% in the first quarter of 2022, the first time since the start of the recession caused by the COVID-19 pandemic. At the same time, in the last quarter of 2021, the US economy grew by 6.9%.
