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The U.S. Congress Joint Economic Committee (JEC) is often asked to evaluate claims about the economy. Some claims are not entirely wrong, but are deeply misleading. The Democratic staff of the JEC has prepared in-depth, carefully researched and referenced answers to the most frequently cited of these statements.

State unemployment rates for August were released on Tuesday, September 20, 2016. In August, there were 20 states with unemployment rates significantly lower than the national rate of 4.9 percent. Eleven states and the District of Columbia had rates significantly higher than the national rate and 19 states had rates that were not statistically different from the national rate.

On Tuesday, September 13, the U.S. Census Bureau released 2015 economic data on household income, poverty and health insurance coverage. These 10 charts show how the U.S. economy continues its strong recovery from the effects of the Great Recession and what areas still are a challenge.

2015 saw the largest percentage increase in median household income since records began being kept in 1967. The gender wage gap narrowed to 20 cents on the dollar. The number of Americans living in poverty dropped by 3.5 million to 13.5%. Every racial and ethnic group saw its poverty level drop and its household income rise. Only 9.1% of Americans still don’t have health insurance.

The 10 charts include:
  • Median Household Income Has Largely Recovered from the Great Recession
  • Despite Strong Gains in 2015, Median Household Income Remains Below 1999 Peak
  • After a Sharp Increase During the Recession, the Poverty Rate is Coming Back Down
  • Social Security Lifts Millions of People Out of Poverty
  • Uninsured Rates Have Fallen Dramatically Since 2013
  • All Major Racial and Ethnic Groups Saw Income Gains in 2015, but Large Disparities Remain
  • Poverty Rates in Black and Hispanic Communities Fell in 2015, but Remain Well Above the National Average
  • Wide Disparities in Health Insurance Coverage Persist
  • Women Earn 80 Cents for Every Dollar Earned by Men
  • Gender Pay Gap Hurts Women of All Races and Ethnicities

The Bureau of Labor Statistics released the employment situation for August 2016 on Friday, September 2, 2016.  The private-sector added 126,000 jobs in August, and the unemployment rate stayed at 4.9%.

This report examines the impact of the fashion industry on the U.S. economy. In 2015 alone, consumers spent nearly $380 billion on apparel and footwear. The industry, which encompasses everything from textile and apparel brands to wholesalers, importers and retailers, employs more than 1.8 million people in the United States. It relies on workers in a wide range of occupations, including fashion designers, market research analysts, computer systems developers, patternmakers, sewing machine operators and wholesale buyers.

The U.S. fashion industry is centered on two major clusters of design and innovation – New York City and Los Angeles. Together, these hubs are home to nearly two-thirds of the nation’s fashion designers – the heart of the industry’s creative process. Yet those cities are no longer the whole story. High-value jobs in the fashion industry that pay high wages are spreading throughout the country, meaning that the economic impact of the fashion industry is expanding beyond the industry’s traditional footprint.

While the future of the U.S. fashion industry lies in the high-value-added parts of the global supply chain, there are signs that companies reshoring, or bringing manufacturing jobs back to the United States, in order to benefit from trends such as “fast fashion” and demand for products “Made in America.” The outcome of debate over international trade regulations will impact the U.S. fashion industry.

This is the second edition of the Quarterly Economic Digest (QED), a publication by the Democratic staff of the Joint Economic Committee. It is designed as a resource for individuals interested in following national economic trends. The QED is distributed each quarter, following the release of major economic indicators.

The QED offers detailed analysis on key economic issues and data releases, including GDP, job growth, personal income and spending and housing. In addition, the QED offers perspective on new developments in the global economy and a look at recent trends in monetary and fiscal policy. The current issue covers the second quarter of 2016. The QED includes analysis of newly released data for July and August where available.

State unemployment rates for July were released on Friday, August 19, 2016. In July, there were 20 states with unemployment rates significantly lower than the national rate of 4.9 percent. Fourteen states and the District of Columbia had rates significantly higher than the national rate, and 16 states had rates that were not statistically different from the national rate.

This report examines the critical role that Social Security plays in the lives of American seniors. Timed to the 81st anniversary of the signing of the Social Security Act on August 14, 1935, the report details how vital Social Security is in keeping millions of Americans out of poverty.

Roughly 45 percent of seniors – approximately 20 million people – rely on Social Security for a majority of their income. This includes the 22 percent of seniors who count on Social Security for 90 percent or more of their income. Social Security benefits lifted 14.5 million seniors out of poverty in 2014. Without those benefits, the poverty rate among seniors – 10 percent in 2014 – would be over four times higher. More than half of those lifted out of poverty were women (8.6 million women ages 65 and older).

Social Security will only increase in importance over the next few decades, as most employers have stopped offering pensions. Also, slow wage growth and rising costs of living will continue to limit the amount of money Americans can put aside for retirement.

The Bureau of Labor Statistics released the employment situation for July 2016 on Friday, August 5, 2016.  The private-sector added 217,000 jobs in July, and the unemployment rate stayed at 4.9%. See our press release for additional information.