Hoyer: Promising Economic Trends in ’23

The US Department of Labor’s November 2023 jobs report shows 199,000 jobs added last month. The report released Friday shows the strength of the US economy thanks to Democrats’ Investing in America agenda, Rep. Steny H. Hoyer said.

“We have now seen 35 consecutive months of job growth totaling a historic 14.25 million new jobs since President Biden took office in January 2021,” Maryland’s 5th District congressman said. “With unemployment dropping again to 3.7% and real GDP growing at a robust 5.2% annual rate last quarter, our economy continues to be resilient and growing under President Biden’s deft leadership.”

Going into the last month of the year, Americans ought to reflect on the promising economic trends seen this past year, Rep. Hoyer said.

“Inflation was cut in half, real wages are up, the economy grew, and job gains continue at a historic clip,” he said. “We also ought to mark the progress Democrats have made to implement the Investing in America agenda – an effort I have been proud to support as chair of the Regional Leadership Council. Under the Biden-Harris Administration, private companies have invested $628 billion in manufacturing, Americans have submitted 14.6 million applications to start new businesses, and 40,000 infrastructure projects are already underway in 4,500 communities across America thanks to the Bipartisan Infrastructure Law.”

View the November 2023 jobs report here.

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