Friday, July 8 — Today, U.S. Rep. Don Beyer of Falls Church, Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 372,000 in June and the unemployment rate was 3.6 percent. The unemployment rate was 5.8 percent for Black workers, 4.3 percent for Hispanic workers, 3.0 percent for Asian workers and 5.0 percent (not seasonally adjusted) for American Indian and Alaska Native workers.
“Today’s jobs report, showing that the private sector has recovered all jobs lost during the pandemic, underscores that while the media focuses on Wall Street volatility, the economy on main street continues to rebound. American businesses are hiring thanks to the Democrats’ response to the pandemic, which saved lives, supported U.S. workers and families and bolstered communities.
“Since President Biden came into office, the U.S. has added nearly 9 million jobs nationwide, and the unemployment rate has fallen to nearly pre-pandemic levels. The American Rescue Plan and other pandemic relief has ensured that employers in the United States remain eager and able to hire, which has enabled workers to secure better jobs with higher pay.
“In many communities of color, which were particularly affected by the pandemic, unemployment has continued to fall. There is more work to do to address racial disparities and ensure economic growth is broadly shared, but we see evidence that the recovery continues to reach more marginalized communities.
“While Russia’s invasion of Ukraine combined with fragile global supply chains have driven higher inflation and energy prices worldwide, the American economy — powered by the strongest household balance sheets this century—continues to create jobs.
“These are not easy economic times, as higher prices deprive U.S. workers and families of the full benefits of the recovery. But while Republicans propose policies to raise taxes on almost half of individuals and families, Democrats in Congress and the Biden Administration are using every tool at our disposal to lower costs for families and promote broad-based growth.”