WASHINGTON – Joint Economic Committee (JEC) Ranking Member Carolyn Maloney (D-N.Y.) issued the following statement Thursday in response to the Department of Labor’s announcement that the economy added 223,000 nonfarm jobs in June, as the unemployment rate declined to 5.3 percent. June was the 64th consecutive month of private-sector job growth, extending the longest streak on record.
"This jobs report underscores the fact that the economy is on solid footing but we are still well short of where we want to be six years into the recovery from the Great Recession. The good news is we have now seen 64 consecutive months of private-sector job growth, the unemployment rate continues to decline, and the long-term unemployment rate also has declined.”
“But these figures don’t reflect the full story. There is still a lot of slack in the economy, and many Americans, especially those at the bottom of the economic ladder, are still suffering. Wages are essentially stagnant, everyone who wants to work – or work more hours – is not able to do so, and the labor force participation rate is too low.
“We know how to expand the economy, and Congress should get to work to do so - with increased investments in infrastructure, education, and renewal of the Export-Import Bank’s charter, which will help American businesses find new markets for their products overseas and support jobs here at home. That’s the best strategy for creating conditions that will allow all Americans to thrive.”
###
