WATCH: Biden says economy ‘on the move’ after strong March jobs report

President Joe Biden hailed the March jobs report Friday, saying it shows that the U.S. economy “has gone from being on the mend to on the move.”

Watch President Joe Biden’s remarks in our player above.

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia’s war against Ukraine and the highest inflation in 40 years.

The government’s report showed that last month’s job growth helped shrink the unemployment rate to 3.6 percent. That’s the lowest rate since the pandemic erupted two years ago and just above the half-century low of 3.5 percent that was reached two years ago.

READ MORE: Labor Department says U.S. job openings remain at historic highs

“There have been only three months in the last 50 years where the unemployment rate in America was lower than it is now,” Biden said, touting the figures. “And that means, what it means is clear, it’s very clear. Americans are back to work. And that’s good news for millions of families who have a little more breathing room and the dignity that comes from earning a paycheck.”

Despite the inflation surge, persistent supply bottlenecks, damage from COVID-19 and now a war in Europe, employers have added at least 400,000 jobs for 11 straight months and just above the half-century low of 3.5 percent that was reached two years ago.

Biden said while progress has been made, he recognizes that more needs to be done to curb inflation and the skyrocketing prices in the U.S.

To help with the rising gas costs, Biden reiterated his move to release of one million barrels of oil per day for the next six months from the Strategic Petroleum Reserve.

The president said Friday morning that over 30 countries from across the world also agreed to the release of tens of millions of additional barrels of oil onto the market.

“Hundreds of hours of meetings with key allies keeping them together is paying off,” Biden said. “Nations are coming together to deny Putin the ability to weaponize his energy resources against American families, not only American families, but families in Europe and around the world.”