The U.S. economy added 210,000 jobs in November, according to the Bureau of Labor Statistics. The unemployment rate fell to 4.2%.

President Joe Biden on Friday hailed the progress made by his administration in terms of job creation and falling unemployment: "Simply put: America's back to work. Our jobs recovery is going very strong.

While the numbers fell short of economists' predictions, it's important to note that monthly jobs figures are often revised. For instance, October's monthly jobs report revealed higher jobs figures for September and August than were initially reported: August's report was revised up 117,000, from 366,000 to 483,000 jobs; September's report, which was considered "disappointing" by many analysts and experts at the time, was revised up by 118,000, from 194,000 to 312,000 jobs.

In fact, November's jobs report did the same: October's jobs report was revised upward, from 531,000 to 546,000, an increase of 15,000, and September's figures were revised upward an additional 67,000, from 312,000 to 379,000.

All told, that accounts for an additional 82,000 more jobs than previously reported.

"Every year, December brings the joys of the holiday season, and gives us an opportunity to reflect on the year gone by and look ahead and begin to imagine the new year to come," Biden said. "This year, we can reflect on an extraordinary bit of progress: Our economy is markedly stronger than it was a years ago, and today, the incredible news that our unemployment rate has fallen to 4.2%."

"At this point in the year, we're looking at the sharpest one-year decline in unemployment ever," Biden continued.

The president noted that compared to one year ago, wages are up and more people are working.

"Even after accounting for rising prices, the typical American family has more money in their pockets than they did last year," Biden said.

Biden noted that despite the news of recovery, "families are anxious," specifically citing the COVID-19 pandemic and rising consumer prices.

“I want you to know I hear you. It’s not enough to know that we’re making progress," Biden said. “You need to see it and feel it in your own lives, around the kitchen table and in your checkbooks."

The president went on to outline some of the actions he's taken to improve the economy and combat the COVID-19 pandemic, including noting he was "thrilled" to see that more COVID-19 vaccines were administered Thursday than any day in the last six months.

Biden on Thursday laid out actions his administration is taking to combat COVID-19 this winter "to protect our economy and our economic recovery," including expanding the nationwide booster campaign in terms of outreach as well as increased hours and appointments.

Biden said Friday he felt that the measures he felt on Thursday were "sufficient" to combat the newly discovered omicron variant, despite more cases being discovered nationwide, and noted that he does not "at this point": see the need to institute a vaccine requirement for domestic travel.

"We're going to continue to require the people to have masks on," Biden said, but added he will continue to listen to his medical and science advisers on the need for further requirements.

The president also announced he will be signing into law a continuing resolution to fund the government through mid-February today, but urged Congress to come together on a long-term funding bill that addresses the country's needs.

"Funding the government isn't a great achievement," Biden said. "It's the bare minimum of what we need to get done."

He did, however, acknowledge the bipartisan nature of the agreement, and thanked Congressional leaders Chuck Schumer, Nancy Pelosi and Mitch McConnell for their efforts.

November's report showed that the number of unemployed persons in the country fell by 542,000 to 6.9 million. While the unemployment rate and number of unemployed individuals are down significantly from their pandemic peaks, they are still above pre-pandemic levels (3.5% and 5.7 million, respectively, in Feb. 2020).

The report also showed that the labor force participation rate ticked upward to 61.8%.

Industries that saw jobs gains included professional and business services (+90,000), transportation and warehousing (+50,000), construction (+31,000) and manufacturing (+31,000).

On the other hand, the Retail trade industry saw losses of 20,000 in November. State and local education (-15,600) and Nursing homes (-11,000) also saw losses.

The news comes one day after weekly jobless claims rose slightly to 222,000 from the prior week's pandemic low of 194,000, still a very low number compared to previous weeks and months. The four-week average of claims fell below 239,000, also a pandemic low.

President Joe Biden will speak from the White House later Friday about the report.

This is a developing story. Check back later for further updates.