09/06/2024 | Press release | Distributed by Public on 09/06/2024 09:00
WASHINGTON, D.C. - Today, the Bureau of Labor Statistics (BLS) released its jobs report for August 2024, which showed 142,000 new jobs were created in August.
Chairman Arrington's Statement on August Jobs Report:
House Budget Committee Chairman Jodey Arrington (R-TX) responds to the August jobs numbers:
"The Biden-Harris Administration's tax-and-spend policies have unleashed widespread economic pain throughout our nation, with stubborn inflation and stagnant job growth continuing to plague American families.
Today's report reminds us that the sustained economic hardship facing working people continues. Prior job gains were revised down yet again, with an abysmal 89,000 jobs added in July.
Joe Biden and Kamala Harris continue to scoff at the economic hardship facing working people, maintaining that their disastrous policies are 'building up the middle class.'
To make matters worse, the Biden-Harris Bureau of Labor Statistics recently lowered its year-over-year employment estimate for March 2024 by nearly 1 million jobs, acknowledging that the economy is much weaker than previously believed.
American workers cannot afford four more years of Kamalanomics."
What Today's Report Showed:
Why It Matters:
Under the Biden-Harris Administration, unchecked spendingand regulations have suffocated our economy and placed us in a precarious fiscal situation.
The unemployment rate has risen by almost a full percent since the beginning of 2023. A dismal jobs report last month was made worse by yet another downward revision this month - in addition to the almost 1 million jobs recently revised down by BLS. Meanwhile, Americans continue to deal with higher prices and financial markets have experienced tremendous volatility.
The writing is on the wall. The Biden-Harris Administration's policies have failed and the Federal Reserve will likely be called in to fix it.
More on the Economy from the House Budget Committee:
Read Chairman Arrington's statement on consumer pessimism about their current economic standing in August HERE.
Read Chairman Arrington's statement on BLS revising down its preliminary annual benchmark review of employment data by 818,000 jobs HERE.
Read Chairman Arrington's statement on the July inflation rate HERE.
Read Chairman Arrington's statement on the Federal Reserve not lowering interest rates in July HERE.