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 187,000 in July and the unemployment rate fell slightly to 3.5%. The unemployment rate was 5.8% for Black workers, 4.4% for Hispanic workers, 3.1% for white workers, 2.3% for Asian workers, and 6.7% (not seasonally adjusted) for American Indian and Alaska Native workers.
“Once again, today’s jobs numbers show that our economy continues to grow and wages for American workers are still on the rise, though the pace of hiring has slowed from recent months. We’ve added nearly 13.4 million jobs since President Biden took office, and we’re experiencing the 30th consecutive month of job growth. Our economy remains resilient, and our labor market is strong.
“As we head into federal budget negotiations, we need to remember that smart spending delivers long term benefits for both our local and national economies. The Biden administration and Democrats in Congress are working together to invest in American workers, families, and small businesses. We will continue our work to build a sustainable and equitable economy that creates opportunity and good-paying jobs for every American.”
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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.
