Hoyer: Job Market Growing at ‘Steady Clip’
The release of the August 2024 Bureau of Labor Statistics’ jobs report brought encouraging news, said Rep. Steny H. Hoyer. “Our economy is expanding, costs are coming down, wages are going up, and the job market is growing at a steady clip,” he said.
“[On September 6], we saw yet another sign of our economy’s enduring strength. The August jobs report revealed that 142,000 jobs were added to the US economy last month, bringing the total added under the Biden-Harris administration to 15.9 million – more than any other administration in history,” Maryland’s Fifth District congressman said. “Additionally, the unemployment rate fell from 4.3% to 4.2%. These positive numbers follow news that inflation has continued to cool off, falling from a peak of 9% in 2022 to just 2.9% today.”
Rep. Hoyer said that he knows many Americans are still struggling to get by, but the country’s economic gains will be felt more broadly as this progress continues.
“Democrats remain hard at work to implement the historic laws that we passed last Congress to continue to lower costs on everything from health care to prescription drugs to energy to consumer goods,” he said. “Four years after the worst economic disaster in modern American history, we have rebuilt an economy that is the envy of the world and are on the verge of achieving a soft landing … Just as Democrats oversaw this historic recovery, we look forward to continuing to deliver results that help ensure Americans – and the American economy – can get ahead in the twenty-first century.”
Congressman Hoyer is chair of the Regional Leadership Council.
For more information about Rep. Steny H. Hoyer, visit his Leader member page.
