According to a new report from Moody’s last week, combined with the Infrastructure Investment and Jobs Act, we will create 1.5 million jobs per year on average and increase GDP by nearly $3 trillion over the next ten years, boosting labor force participation and propelling us toward full employment. Moody’s also projects that total GDP will increase by nearly $3 trillion relative to the baseline over the next decade. The report confirms what the President has said for weeks: that these sorts of investments in making our economy more productive will keep prices stable and decrease inflationary pressure.
Nov 05 2021
JEC Chairman Beyer on October Jobs Report
Today, Congressman Don Beyer (D-VA), 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 531,000 in October and the unemployment rate declined to 4.6%, a new pandemic-era low. The unemployment rate was 7.9% for Black workers, 5.9% for Hispanic workers and 4.2% for Asian workers.
Nov 05 2021
JEC Chairman Beyer on October Jobs Report
Today, Congressman Don Beyer (D-VA), 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 531,000 in October and the unemployment rate declined to 4.6%, a new pandemic-era low. The unemployment rate was 7.9% for Black workers, 5.9% for Hispanic workers and 4.2% for Asian workers.
Nov 04 2021
JEC, CHC, House Small Business Committee Release Report on Hispanic Businesses, Entrepreneurship
Hispanic-owned businesses drive economic growth, contribute more than $800 billion annually to the U.S. economy
Today, the U.S. Congress Joint Economic Committee (JEC), led by Congressman Don Beyer (D-VA); the Congressional Hispanic Caucus (CHC), led by Congressman Raul Ruiz, M.D. (D-CA); and the House Small Business Committee, led by Congresswoman Nydia Velázquez (D-NY) released a new report examining the state of Hispanic entrepreneurship and businesses ownership in the United States.
Oct 28 2021
Chairman Beyer Statement on Q3 GDP
Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Economic Analysis (BEA) reported its initial estimate of third quarter gross domestic product (GDP) growth of 2.0% on an annualized basis.?
Today, the Congressional Hispanic Caucus (CHC), led by Congressman Raul Ruiz, M.D. (D-CA), and the U.S. Congress Joint Economic Committee (JEC), led by Congressman Don Beyer (D-VA), released a new report that examines the wealth disparities that threaten the economic security and opportunities of Hispanic Americans and their families.
U.S. Representatives Don Beyer (D-VA), Alexandria Ocasio-Cortez (D-NY), Mikie Sherrill (D-NJ), Jimmy Gomez (D-CA), Cori Bush (D-MO), and Scott Peters (D-CA) today announced the introduction of the Unemployment Insurance Improvement Act, H.R. 5507, legislation to strengthen the delivery of benefits to unemployed American workers. The bill would require states to provide a minimum 26 weeks of unemployment insurance (UI) benefits, cover part-time workers, and update wage record rules and administration standards to make benefits more accessible to applicants.
Oct 08 2021
JEC Chairman Beyer on September Jobs Report
Today, Congressman Don Beyer (D-VA), 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 194,000 in September and the unemployment rate declined to 4.8%, a new pandemic-era low. The unemployment rate was 7.9% for Black workers, 6.3% for Hispanic workers and 4.2% for Asian workers.
Oct 07 2021
Build Back Better revenue provisions “rebalance the scale,” create long-term, broadly shared economic growth
Yesterday, the U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—held a hearing titled “Building Back Better: Raising Revenue to Invest in Shared Prosperity” to examine the economic benefits of the revenue provisions included in the Build Back Better reconciliation and bipartisan infrastructure packages.
The U.S. Congress Joint Economic Committee (JEC)—led by Chairman Don Beyer (D-VA)—released a new issue brief highlighting how defaulting on the federal debt would create a financial crisis on par with that of 2008, resulting in catastrophic economic damage with millions of jobs lost, businesses shuttered and a banking system in chaos.
