U.S. jobs report underscores need for Biden recovery plan -adviser

Jared Bernstein, appointed to be a member of the Council of Economic Advisers, speaks as U.S. President-elect Joe Biden announces nominees and appointees to serve on his economic policy team at his transition headquarters in Wilmington, Delaware, U.S., December 1, 2020. REUTERS/Leah Millis

WASHINGTON (Reuters) - The U.S. jobs report on Friday showing a less than expected rebound in January underscores the urgent need for President Joe Biden’s coronavirus recovery plan, White House economic adviser Jared Bernstein said.

“It just underscores the cost of inaction. I mean when you’re adding 29,000 jobs a month on average over the past three months. That is a labor market stall,” Bernstein, a member of the White House Council of Economic Advisers (CEA), told CNBC.

“This report underscores the urgency of the American rescue plan.”

Reporting by Doina Chiacu; Editing by Lisa Lambert