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House Budget Chairman Yarmuth on February Jobs Report: “Our recovery continues to break records, outpace our global competitors, and surpass even the most optimistic expectations”

Mar 4, 2022

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 678,000 in February and the unemployment rate declined to 3.8 percent:

“Under the leadership of President Biden and Democratic Majorities in Congress, our nation has recovered more jobs in the last 13 months than we did in the first three-and-a-half years following the worst of the Great Recession. Our recovery continues to break records, outpace our global competitors, and surpass even the most optimistic expectations. These extraordinary gains – including the fastest economic growth in nearly 40 years – are powered by the critical investments in the American Rescue Plan and Bipartisan Infrastructure Law.

“But we have more work to do to secure an inclusive recovery and build an economy that works for all Americans. Racial and gender disparities persist: Black men face an unemployment rate more than twice as high as white men, while 1.4 million fewer women are employed today compared to February 2020, versus only 600,000 fewer men. Congress must continue to push for policies and investments that will lower costs and deliver the support Americans need to succeed in a post-pandemic economy.

“By creating more good-paying jobs, lowering the costs of essentials like child care, education, and health care, and addressing pandemic-induced inflation head on, President Biden and Democrats are working to build a stronger and better America for all.”

 

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