Washington, D.C.—Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 175,000 in April and the unemployment rate ticked up to 3.9%. The unemployment rate was 5.6% for Black workers, 4.8% for Hispanic workers, 3.5% for white workers, 2.8% for Asian workers, and 4.7% (not seasonally adjusted) for American Indian and Alaska Native workers.
“American workers and families are continuing to see the benefits of a strong labor market. We’ve added more than 15 million jobs with 39 consecutive months of job growth under President Biden, the fastest job growth in history.
“But we’re still facing headwinds from global economic instability, and people in New Mexico and across the country are feeling the effects of the Fed’s continued high interest rates. Unnecessarily high rates worsen the housing crisis and hurt workers, and the Fed should be careful to not keep rates too high for too long.”
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About Chairman Martin Heinrich
U.S. Senator Martin Heinrich has served the people of New Mexico in the United States Senate since 2012. In addition to his role as Chairman of the U.S. Congress Joint Economic Committee, Heinrich also serves as Chairman of the Subcommittee on Agriculture, Rural Development, and Food and Drug Administration on the Senate Appropriations Committee, and as a member of the Senate Energy and Natural Resources Committee and the Senate Select Committee on Intelligence. Prior to his election to the U.S. Senate, Heinrich served two terms in the U.S. House of Representatives, four years as an Albuquerque City Councilor, as New Mexico’s Natural Resources Trustee, and in AmeriCorps with the U.S. Fish and Wildlife Service.
About the U.S. Congress Joint Economic Committee
The U.S. Congress Joint Economic Committee is Congress’s bicameral economic think tank. It was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President's Council of Economic Advisers (CEA) and the JEC. Their primary tasks are to review economic conditions and to recommend improvements in economic policy. Chairmanship of the JEC alternates between the Senate and House every Congress.
