Joint Economic Committee Chairman Dan Coats (R-Ind.) issued the following statement regarding today’s report from the Bureau of Labor Statistics (BLS) that the U.S. economy added 211,000 nonfarm payroll jobs in November, the unemployment rate remained essentially unchanged at 5.0% and labor force participation is 62.5%:

“Today’s report reinforces that while our economy remains on a steady path, there is still more work to be done. The labor force participation rate remains near a 38-year low, and millions of workers in their prime earning years are either out of work or underemployed.

“While these numbers increase the likelihood that the Federal Reserve will raise interest rates later this month, changing interest rates is not a long-term prescription for achieving a more dynamic economy. Unlocking the full potential of our economy will require policy decisions that incentivize the private sector, including better fiscal management of spending by the federal government as well as pursuing pro-growth policies such as tax reform, a more balanced regulatory environment and passage of trade agreements.”