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Joint Economic Committee Chairman Don Beyer Statement On June Jobs Data: “While the media focuses on Wall Street volatility, the economy on main street continues to rebound.”

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From Rep. Don Beyer (D-VA08):

Joint Economic Committee Chairman Beyer Statement On June Jobs Data

Washington, D.C.—Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 372,000 in June and the unemployment rate was 3.6%. The unemployment rate was 5.8% for Black workers, 4.3% for Hispanic workers, 3.0% for Asian workers and 5.0% (not seasonally adjusted) for American Indian and Alaska Native workers.  

“Today’s jobs report, showing that the private sector has recovered all jobs lost during the pandemic, underscores that while the media focuses on Wall Street volatility, the economy on main street continues to rebound. American businesses are hiring thanks to the Democrats’ response to the pandemic, which saved lives, supported U.S. workers and families and bolstered communities.   

“Since President Biden came into office, the U.S. has added nearly 9 million jobs nationwide, and the unemployment rate has fallen to nearly pre-pandemic levels. The American Rescue Plan and other pandemic relief has ensured that employers in the United States remain eager and able to hire, which has enabled workers to secure better jobs with higher pay.  

“In many communities of color, which were particularly affected by the pandemic, unemployment has continued to fall. There is more work to do to address racial disparities and ensure economic growth is broadly shared, but we see evidence that the recovery continues to reach more marginalized communities.   

“While Russia’s invasion of Ukraine combined with fragile global supply chains have driven higher inflation and energy prices worldwide, the American economy—powered by the strongest household balance sheets this century—continues to create jobs.  

“These are not easy economic times, as higher prices deprive U.S. workers and families of the full benefits of the recovery. But while Republicans propose policies to raise taxes on almost half of individuals and families, Democrats in Congress and the Biden Administration are using every tool at our disposal to lower costs for families and promote broad-based growth.”

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About Congressman Beyer

Congressman Don Beyer is currently serving his fourth term in the U.S. House of Representatives, representing Northern Virginia suburbs of the nation’s capital. In addition to his role as Chairman of the U.S. Congress Joint Economic Committee, Beyer serves on the House Committee on Ways and Means and the House Committee on Science, Space and Technology, where he chairs the Subcommittee on Space and Aeronautics. Previously, Beyer served as the Lieutenant Governor of Virginia and Ambassador to Switzerland, and built a successful family business over the course of four decades.

About the U.S. Congress Joint Economic Committee

The U.S. Congress Joint Economic Committee is Congress’s bicameral economic think tank. It was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President’s Council of Economic Advisers (CEA) and the JEC. Their primary tasks are to review economic conditions and to recommend improvements in economic policy. Chairmanship of the JEC alternates between the Senate and House every Congress.

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