Chairman Yarmuth on July Jobs Report
WASHINGTON, D.C. – Today, after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 943,000 in July and unemployment dipped to a pandemic-low of 5.4%, Kentucky Representative John Yarmuth, Chair of the House Budget Committee, released the following statement:
“With nearly one million jobs added to our growing economy, it is clear that the American Rescue Plan is making a real difference in the lives of working families and communities across the country,” said Chairman Yarmuth. “This positive news is a powerful marker of success, but we need to keep at it to ensure a more inclusive and resilient recovery.
“With the President’s Build Back Better agenda and its crucial investments in child care, clean energy, housing, infrastructure, education, and more, we can build on this momentum; creating even more good-paying jobs, lowering costs for working families, and transforming our economy for generations to come. It’s time we make these long-overdue investments in American families and the future of our nation a reality.”
In addition to an outstanding jobs report for July, job numbers for June were revised up from an initial estimated job growth of 850,000 to an even stronger estimate of 938,000.
Other highlights include:
- With the inclusion of a very strong 943,000 Jobs in July 2021, the three-month average job growth is now at 832,000 jobs a month.
- In the first half of this year, the economy grew at the fastest rate in nearly 40 years.
- While total payrolls are still 5.7 million jobs short of February 2020 levels, this month’s strong number is helping to close the gap.
- Much of the job growth this month was driven by an increase of 380,000 jobs in leisure and hospitality as businesses continue to reopen. The other largest gains were in government employment (+240,000) and education services (+87,000).
This growth in June and July can be attributed, in part, to the American Rescue Plan, sponsored and spearheaded in the House by Chairman Yarmuth. The legislation provided critical COVID relief and economic support to the American people while addressing the twin health and economic crises facing the United States.
As Chair of the House Budget Committee, Chair Yarmuth is intricately involved in negotiations to craft and enact the Build Back Better agenda and deliver one of the most consequential pieces of legislation for working families in generations.
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