Chairman Yarmuth on June Jobs Report
WASHINGTON, DC – Today, Kentucky Representative John Yarmuth, Chairman of the House Budget Committee, 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 remained low at 3.6 percent:
“Today’s jobs report shows a strong and healthy labor market, with job openings near record highs, unemployment close to the lowest level in half a century, and layoffs below pre-pandemic levels,” said Chairman Yarmuth. “In President Biden’s economy, the number of Americans needing unemployment benefits is at the lowest level since 1970 — lower than any year of the Reagan, Bush, or Trump Presidencies. Across the board, American workers are getting higher wages, better benefits, and better jobs.”
“Our economy has created more than 9 million jobs since President Biden took office, thanks in no small part to the American Rescue Plan and President Biden’s unprecedented vaccination effort,” Yarmuth continued. “In contrast, Congressional Republicans not only voted against support for working families, they are actually planning to raise taxes on working Americans, put Social Security and Medicare on the chopping block every five years, eliminate vital programs that were critical to ensuring a more equitable recovery, and extend the failed GOP Tax Scam. This dangerous and extremist agenda threatens the health of our economy and the well-being of every working American and family.”
“That’s not what the American people want or need from their government, which is why Democrats are working to boost our economic recovery, lower costs, and create additional opportunities for families across the country.”
Numbers of note:
- The U.S. economy added 372,000 jobs in June 2022. Three-month average job growth is now at 375,000 jobs a month. 9 million jobs have been created since President Biden took office.
- The unemployment rate is steady at 3.6 percent. Unemployment levels are below projections from earlier 2021 and are effectively at full employment levels.
- Racial disparities persist, with Black men and Black women facing unemployment rates nearly twice as high as their white counterparts.
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