Biden says jobs report bolsters case for government spending

President Joe Biden is portraying the May jobs report as a jumping off point for more spending on infrastructure and education. It’s an argument for his broader agenda to keep growth going. But Friday’s employment numbers also hinted at the limits of how much government aid can be pumped into the world’s largest economy. The 559,000 jobs added were less than what many economists were expecting. A separate figure indicated that too few people are looking for jobs compared to demand from employers. This mismatch means wages are rising sharply. But it also means that inflation could be elevated until market forces sort out supply chains and hiring.