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 272,000 in May and the unemployment rate ticked up slightly to 4.0%. The unemployment rate was 6.1% for Black workers, 5.0% for Hispanic workers, 3.5% for white workers, 3.1% for Asian workers, and 6.1% (not seasonally adjusted) for American Indian and Alaska Native workers.
“A persistently strong labor market is a win for working families across the country. We’ve now seen more than 15 million new jobs with 40 consecutive months of job growth since President Biden took office, the fastest job growth in history.
“Unprecedented federal investments have helped build a more resilient U.S. economy — including a boom in U.S. manufacturing. Democrats have brought on a new era with nearly 800,000 manufacturing jobs added to the economy. That’s why I am holding a hearing next week to discuss the manufacturing renaissance and historic job growth we’ve created that are giving more working people a shot at success and financial stability.”
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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.