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 275,000 in February and the unemployment rate ticked up to 3.9%. The unemployment rate was 5.6% for Black workers, 5.0% for Hispanic workers, 3.4% for white workers, 3.4% for Asian workers, and 6.6% (not seasonally adjusted) for American Indian and Alaska Native workers.
“Our economy continues to grow, with 275,000 jobs added in February and nearly 15 million jobs created so far under President Biden. We’ve now seen 37 consecutive months of job growth under this administration and wages are up, especially for low- and middle-income workers. The U.S. economy remains the strongest in the world.
“Last night, we heard from President Biden more about his plans to build upon this administration’s economic successes and further strengthen our economy. While we’re still facing systemic challenges, including rising housing and childcare costs, I was especially encouraged by the new initiatives the White House is proposing to ease costs for first-time home buyers and make housing more attainable for more people. I’ll keep fighting for the middle class to make sure the economy in New Mexico and across the country works for everybody, not just the wealthy.”
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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.
