"Chairwoman Velázquez on June Jobs Report"
Summary
A committee statement dated July 8, 2022 from Chairwoman Velázquez on the June jobs report. The statement says the recovery has gained back all the private-sector jobs lost during the pandemic and that U.S. manufacturing employment has returned to levels not seen since February 2020. It says 9 million jobs have been added under President Biden and the unemployment rate has dropped to 3.6%, and credits the American Rescue Plan and other policies advanced by the President and Democrats in Congress. It also cites hundreds of billions of dollars in pandemic relief aid to small businesses and Small Business Administration lending, and says Congress must continue efforts to lower costs for working families.
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Full text
Chairwoman Velázquez on June Jobs Report July 8, 2022 “With today’s jobs report, our recovery has passed an important milestone as we’ve gained back all the private-sector jobs lost during the pandemic. The June jobs report also revealed that U.S. manufacturing employment has returned to levels not seen since February 2020. This recovery has been historically swift and strong. Under President Biden, we’ve added 9 million jobs, and the unemployment rate has dropped to 3.6%. This progress was no accident. The American Rescue Plan and other policies advanced by the President and Democrats in Congress paved the way for this recovery. In addition, over the past two years, the Biden Administration has provided small businesses with hundreds of billions of dollars in aid through pandemic relief programs. These efforts, combined with historic levels of Small Business Administration lending, have given small firms the support necessary to create jobs and lead the way in this recovery. “The June jobs report proves that our labor market is strong. This strength will help Americans and small businesses weather rising prices due to the Russian invasion of Ukraine and other challenges. But Congress must not relent in our efforts to lower costs for working families and continue to create economic opportunities. In the coming months, I look forward to working in Congress to advance policies that build on the progress outlined in this jobs report.”
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