Hoyer Statement on August Jobs Report

WASHINGTON, DC - Congressman Steny H. Hoyer (MD-05) released the following statement today on the August jobs report:

"Today, we saw yet another sign of our economy's enduring strength. The August jobs report revealed that 142,000 jobs were added to the U.S. economy last month, bringing the total added under the Biden-Harris Administration to 15.9 million - more than any other administration in history. Additionally, the unemployment rate fell from 4.3% to 4.2%. These positive numbers follow news that inflation has continued to cool off, falling from a peak of 9% in 2022 to just 2.9% today. Our economy is expanding, costs are coming down, wages are going up, and the job market is growing at a steady clip.
"We know many Americans are still struggling to get by, but our economic gains will be felt more broadly as this progress continues. Democrats remain hard at work to implement the historic laws that we passed last Congress to continue to lower costs on everything from health care to prescription drugs to energy to consumer goods.
"Four years after the worst economic disaster in modern American history, we have rebuilt an economy that is the envy of the world and are on the verge of achieving a soft landing - something Republicans deemed impossible. Indeed, they often openly rooted for a recession. Just as Democrats oversaw this historic recovery, we look forward to continuing to deliver results that help ensure Americans - and the American economy - can get ahead in the twenty-first century."