Hoyer: Economy Stronger Than Ever
The US Bureau of Labor Statistics’ January 2024 jobs report shows “our economy is stronger than ever,” Rep. Steny H. Hoyer said.
“This month’s gains mean that more than 14.8 million jobs have been added to the economy since President Biden took office three years ago. With another 353,000 jobs added last month, smashing expectations, we have now seen 37 consecutive months of job growth. Meanwhile, the unemployment rate remained near its historic low at 3.7%,” Rep. Hoyer (D-MD) said.
The news also follows a recent report that the US economy grew a “robust” 3.1% last year, even after accounting for inflation, the congressman said.
“With strong job gains, rising wages, continued economic growth, and inflation declining at a rapid pace, our nation’s streak of positive economic news reflects Democrats’ commitment to building an economy from the middle out and the bottom up and demonstrates that our Investing in America agenda is working,” he said. “… Federal Reserve Chair Jerome Powell said, ‘Let’s be honest. This is a good economy.’ Personal finances are strong, real wages are rising, manufacturing is booming, and, just like Chair Powell, Americans across the country are feeling better about the economy.”
Retail sales were up in December and consumer confidence rose 114.8 in January, its highest level in more than two years.
“Our work is not yet done,” Rep. Hoyer said. “As chair of the Regional Leadership Council, I am working in close partnership with the Biden-Harris administration and House Democrats to ensure that Americans in every part of the country feel the positive impact of the Democrats’ Investing in America agenda. From lowering prescription drug costs and capping insulin at $35 a month for Medicare beneficiaries to building better roads and increasing affordable high-speed internet access across the nation, we continue to show how Democrats deliver results and put People Over Politics.”
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