Hoyer: Jobs Report Weaker Than Expected

Employment increased by 155,000 in November 2018, and the jobless rate remained unchanged at 3.7 percent, according to the US Bureau of Labor Statistics latest jobs report.

“While reflective of a resilient economy, the November jobs report was weaker than expected, driven in part by uncertainty due to trade and the realization that any short-term benefit of the GOP tax cut has already worn off,” US Rep. Steny H. Hoyer (D-Md., 5th) said in a statement. “The good news is, on the surface, our economy continues to create jobs and hold the unemployment rate down. What we are beginning to see in markets across the globe, however, has been the reality of economic insecurity felt by millions of families and small business owners across the country even when stock markets were booming. Once again, wage growth failed to break out, making it even harder for these hard working Americans to make ends meet, save for a secure retirement, and dig out from under mountains of student loan debt.”

Congressman Hoyer said that when Democrats take control of the House in January, these concerns will be foremost on their agenda.

“We will restore a steady hand to economic leadership, putting working families and small businesses first. As we strive to make government work again for the people and enable all those who work hard to make it in America, our focus will be on creating the conditions for businesses to hire and pay their workers more, lowering the cost of health care and prescription drugs, making higher education and skills training more attainable, and ensuring that those who worked hard can have the secure retirement they earned. Our majority will seek to build the innovative infrastructure that will create broad economic opportunities across the country and crack down on the corruption in Washington that stalled progress over the past two years. As majority leader, I look forward to working with our members – and with Republicans across the aisle – to ensure that Congress does its job and makes opportunities available to those it serves,” Mr. Hoyer said.

Some highlights of the November 2018 report include:

• Health care employment rose by 32,000 in November. Within the industry, job gains occurred in ambulatory health care services and hospitals.
• In November, manufacturing added 27,000 jobs, with increases in chemicals and primary metals. Manufacturing employment has increased by 288,000 over the year, largely in durable goods industries.
• Employment in transportation and warehousing rose by 25,000 in November. Job gains occurred in couriers and messengers and in warehousing and storage.
• In November, employment in professional and business services continued on an upward trend.

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