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 303,000 in March and the unemployment rate ticked down to 3.8%. The unemployment rate was 6.4% for Black workers, 4.5% for Hispanic workers, 3.4% for white workers, 2.5% for Asian workers, and 3.9% (not seasonally adjusted) for American Indian and Alaska Native workers.
“The U.S. economy continues to outperform expectations, with 303,000 jobs added in March to reach 38 consecutive months of job growth and over 15 million new jobs since President Biden took office. Unemployment has remained under 4% for the longest stretch in 50 years, and wages are going up, especially for low- and middle-income workers.
“Our workforce is the strongest when everyone is fully able to participate. One way to ensure we keep parents in the labor force is by working towards solutions to lower the cost of child care. That’s why I’ve put together a hearing next week to examine the investments needed so we can help families to access affordable early childhood care and education.”
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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.
