President Joe Biden claimed that the May jobs report is proof that his "economic plan is working" but noted that the post-pandemic revival is "far from finished."

The Bureau of Labor Statistics reported Friday morning that the economy added 339,000 nonfarm jobs in May, far surpassing projections for the month. The country has averaged 280,000 new jobs per month for the past three months, indicating a degree of stability despite more than a year of interest rate hikes from the Federal Reserve and recent economic stability surrounding the debt ceiling.

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"The Biden economic plan is working. And due to the historic action taken by Congress this week, my economic plan will continue to deliver good jobs for the American people in communities throughout the country. I look forward to signing the bipartisan budget agreement into law," the president wrote in a statement. "The agreement protects our historic and hard-earned economic recovery, and all the progress that American workers have made in the last two years. And it protects key priorities and accomplishments from the last two years. Our work is far from finished, but this agreement is a reminder of what’s possible when we act in the best interests of our country."

May's report wasn't all good news for Biden, however. The historically low unemployment rate rose three-tenths of a point to 3.7%, with the total number of unemployed rising to 6.1 million.

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Biden will deliver remarks on the economy and the new debt ceiling agreement Friday night in prime time from the White House.

The deal came after a monthslong stalemate with House Speaker Kevin McCarthy and Republican lawmakers over federal spending levels. Still, the White House has maintained that recent negotiations centered on the appropriations process, rather than the debt limit.