Hoyer: Us Economy Is Envy of the World

The US Labor Department’s 2024 March job reports shows that the US economy is stronger than ever and there is evidence to prove it, said Congressman Steny H. Hoyer.

“A historic 15.2 million jobs have been added to the economy under President Biden’s leadership. In March alone, 303,000 jobs were created,” Rep. Hoyer (D-MD) said. “America has seen 38 months of consecutive job growth since President Biden took office in January 2021. A record 16 million Americans are starting small businesses. The unemployment rate has stayed historically low, under 4%, for more than two years – the longest such stretch in half a century.”

Additionally, he said, real wages have grown over the past year, continuing to outpace inflation.

“We have also seen the leisure and hospitality industries return to their pre-pandemic levels after being devastated by COVID-19. Democrats continue to Invest in America to ensure that every person, in every ZIP code, can Make It In America,” he said. “For the past two weeks, members of Congress have been in their districts discussing the impact of the Investing in America agenda with their communities. From capping insulin prices at $35 a month for seniors and lowering other health care costs to expanding affordable internet access and upgrading our infrastructure, the investments that Democrats made last Congress are revitalizing the American economy.

“As President Biden said in his State of the Union address last month, ‘I inherited an economy that was on the brink. Now, our economy is literally the envy of the world.’ The American economy will continue to be the envy of the world so long as we keep Investing in America and putting People Over Politics.”

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