JEC VICE CHAIR MALONEY ON TEPID JOBS REPORT: Congresswoman Carolyn B. Maloney (NY-12), vice chair of the US Congress Joint Economic Committee, issued the following statement on September 6, after the Bureau of Labor Statistics reported that nonfarm payroll employment grew by 130,000 in August and the unemployment rate was 3.7%. Average hourly earnings increased 3.2% from the prior year.
“Today’s job numbers are somewhat disappointing, especially considering temporary Census jobs padded the numbers by 25,000. It’s becoming clear the Trump Administration’s erratic trade policies are hurting businesses and consumers, while the $1.9 trillion Republican tax cut did more to reward the wealthy than provide a lasting boost to workers. I’m concerned that we may see more lackluster jobs numbers in coming quarters, as independent economists and organizations including the Federal Reserve and Congressional Budget Office all forecast economic growth will slow this year and next."
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