May 19, 2022

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Hoyer: US Economic Recovery Continues

Economic

The US Labor Department has released its February 2022 jobs report. Rep. Steny H. Hoyer said the report “demonstrates the continued strength of our economic recovery.”

“Over 7.3 million jobs have been created since President Biden took office last year, with 678,000 jobs added this February and nearly 100,000 more accounted for in the previous two months,” he said. “With the American Rescue Plan and the Bipartisan Infrastructure Law, President Biden and Democrats in Congress have taken historic steps to ensure our nation has the tools to recover from the pandemic and generate strong economic growth for the years ahead.”

In February, the House passed the America COMPETES Act to propel innovative research, tackle the semiconductor shortage, secure our supply chains, and invest in education and skills training so the US can better compete in the global economy, Rep. Hoyer (D-MD) said.

“President Biden and Democrats are taking steps to address inflation resulting from the pandemic’s economic shocks and to meet the challenge of supply-chain disruptions so that Americans don’t have to pay more to get less. We are committed to raising wages and lowering the costs of essentials like child care, education, and housing. While a belligerent Russian president’s attack on the people of Ukraine threatens global peace and prosperity, it is all the more critical that we make every effort to sustain our economic growth to continue building a better and stronger America,” he said.

The Bureau of Labor Statistics reports that 678,000 new jobs were created last month and the jobless rate fell to 3.8%. Read the report here.

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

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