Hoyer: Steady Job Growth Continues

With the release of the US Labor Department’s July 2023 jobs report, Rep. Steny H. Hoyer noted that the US added another 187,000 jobs, an “encouraging sign of steady job growth that reflects America’s renewed economic strength.”

“The total jobs created since President Biden took office in January 2021 has reached a historic 13.3 million, and unemployment remains near its record low at 3.5%. Additionally, last month’s Consumer Price Index found that inflation has now fallen for 12 months in a row,” the congressman said.

The Bureau of Economic Analysis also recently reported that America’s real GDP increased at an annual rate of 2.4% in the second quarter of 2023 – blowing apart critics’ claims that America is in the grips of a recession, he said.

“Bidenomics and Democrats’ Investing in America agenda continue to fuel this historic economic growth. From helping create jobs to encouraging private investment to lowering costs for working families, the legislation we enacted in the 117th Congress is making our economy and our people more competitive. Thanks in part to these transformative policies, wages are rising faster than inflation, consumer costs are declining, inflation has fallen to a two-year low, and our national unemployment rate has remained below 4% for the longest stretch in more than half a century,” Rep. Hoyer said.

More Americans are working today than at any point in the nation’s history, he said, and “we will keep fighting to ensure these workers and families have the tools and opportunities they need to Make It In America.”

Read the July 2023 report here.

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