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Biden cites ‘historic progress’ despite modest jobs report

REHOBOTH BEACH, Del. (Reuters) -Unemployment is down and wages are up, President Joe Biden said on Friday, as his administration touted data that left some economists concerned about the U.S. labor market. “This is historic progress,” Biden said in a speech. The Labor Department’s closely watched employment report on Friday showed 559,000 nonfarm jobs created last month, with wages rising, though millions of unemployed Americans remained at home.