July 24, 2024

Hoyer: Historic Job Growth in Past 40 Months

Economy

The US Labor Department’s May 2024 jobs report shows that since President Joe Biden took office the US has added a “historic ​15.6 million jobs, including ​272,000 in May alone, and seen 40 months of consecutive job growth,” said Congressman Steny H. Hoyer (D-MD).

“After years of crisis – from the COVID-19 pandemic to the Russian invasion of Ukraine – many could not imagine how our economy could rebound,” he said. “Now, the American economy is the envy of the world, with millions of Americans applying to start small businesses, wages rising faster than inflation, and the unemployment rate continuing to stay historically low, below 4 percent for more than two years.”

Democrats know many hardworking Americans are still struggling, the congressman said, “which is why we continue to take action to lower their costs on everything from health care to energy to prescription drugs. You should never have to decide whether to pay your rent, feed your family, or afford your medication.”

He said that House Democrats continue to oppose legislation that undermines the Federal Trade Commission, Consumer Financial Protection Bureau, and other agencies that work to lower Americans’ costs.

“These federal agencies protect Americans from fraud, scams, and exploitation – whether it’s a supermarket monopoly inflating grocery costs or oil and gas companies gouging prices at the pump. Underfunding these agencies is not fiscal responsibility; it’s fiscal negligence. I will continue working with Democrats to ensure our government has the resources necessary to enforce our financial laws and go after those who break it,” Congressman Hoyer said.

Congressman Hoyer is chair of the Regional Leadership Council.

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

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