May 25, 2024

Hoyer: ‘Economy Continues to Plow Ahead’

Economy

The US Labor Department’s August 2023 jobs report shows that the US economy added another 187,000 jobs last month, “further affirming the consistent strength of our job market and economy,” Rep. Steny H. Hoyer said.

“The total number of jobs created since President Biden took office in January 2021 has reached a historic 13.5 million, and unemployment remains near its record low at 3.8%,” he said.

The slight uptick in unemployment in August was largely a product of a 0.2% increase in the labor force participation rate, the congressman said. That means that “more Americans are rejoining the workforce and looking for jobs. Additionally, wages continue to rise, costs continue to fall, and our economy continues to plow ahead.”

“Democrats are building the economy from the middle out and the bottom up. Last Congress, we passed transformative legislation to support American families and to deliver on our promise to put People Over Politics,” Rep. Hoyer said. “In the past month, we celebrated the one-year anniversary of three important pieces of the Investing in America agenda: the CHIPS and Science Act, the Sergeant First Class Heath Robinson Honoring our Promise to Address Comprehensive Toxics (PACT) Act, and the Inflation Reduction Act. All three pieces of legislation have already made significant investments in the American people in just the past year, and their impact will only continue to grow in the coming months and years.”

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