December 10, 2023

Hoyer: Economy Recovering at Steady Pace

Economic Trends Jobs Report

The latest Bureau of Labor Statistics jobs report shows that 373,000 jobs were created across the US in June 2022, in line with the past several months of strong growth, while employment in the private sector has surpassed its pre-pandemic level. “[The July 8] jobs report demonstrates that our economic recovery is continuing at a steady pace,” said Rep. Steny H. Hoyer.

“These encouraging numbers are, without a doubt, the result of swift action by President Biden and congressional Democrats in 2021, when we enacted the American Rescue Plan and the Bipartisan Infrastructure Law to reinvigorate our economy and help Americans get back to work,” he said. “The success of these laws can be measured in the 9 million new jobs created since President Biden took office in 2021. Although our continued growth is reassuring, Congress can and must do even more to, in conjunction with the Federal Reserve, boost our recovery, address inflation, and create additional opportunities for American workers, entrepreneurs, and innovators to create a bulwark against any potential downturn.”

Maryland’s 5th District congressman said Congress must continue to advance legislation that bolsters the economy and invests in opportunities for the American people. It is imperative that the House and Senate agree on a final version of a bipartisan, bicameral innovation bill similar to the America COMPETES Act that the House passed in February, he said.

“This legislation includes many of the policy priorities of the Make It In America plan I have overseen since 2010, and it would create new jobs by revitalizing our nation’s innovation, research, and domestic manufacturing sectors. It would do so by investing in education to help American workers build productive and prosperous careers while strengthening supply chains in order to ease inflation and bring costs down for American businesses and consumers,” he said.

The US Bureau of Labor Statistics June 2022 report can be read here.

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For more information about House Majority Leader Steny H. Hoyer, visit his Leader member page.

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