June Report: Job Growth Slowed
The US Labor Department’s latest jobs reports shows that job growth slowed in June, with 74,000 private sector jobs added to the economy and unemployment at 4.1%. Efforts to give the wealthy another tax cut have had direct consequences on America’s economic future, said Rep. Steny H. Hoyer.
“Disastrous policies continue to slash good-paying jobs and raise costs,” he said. “Americans are paying the price.”
Rep. Hoyer (D-MD) said that with the One Big, Beautiful Bill an estimated 17 million Americans will lose health care coverage, and many hospitals will close or reduce service because of the bill’s more than $1 trillion in cuts to Medicaid and the Affordable Care Act.
“Millions more will go hungry, and many farms will go under” as food assistance programs are pared back, the congressman said. “Cuts to student loans and Pell grants will make college and skills training programs more expensive. The bill also rolls back incentives Democrats created for the private sector to invest in advanced manufacturing of clean electric vehicles, batteries, and other critical clean energy technologies.
“Because of this bill, the bottom 20 percent of American earners will see their income decline by 3 percent. The top 1 percent, however, will see their income increase by 3 percent. That is a $1 trillion dollar tax cut for the top 1 percent. Crucially, future generations of Americans will have to pick up the tab for this bill’s $3.4 trillion price tag. Investors continue to lose faith and credit of the United States, and Americans will pay the price,” Rep. Hoyer said.
Find the June 2025 report here.
Congressman Hoyer is chair of the Regional Leadership Council.
For more information about Rep. Steny H. Hoyer, visit his Leader member page.
