WASHINGTON, D.C. — 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 255,000 nonfarm payroll jobs in July, the first month of the third quarter. The unemployment rate remained unchanged at 4.9 percent.

“This month’s employment report is welcome news, especially after last week’s dismal second quarter GDP growth estimate, but we need a sustained period of strong job growth to improve confidence in the ongoing economic recovery. In 2016 we have averaged a gain of 186,000 jobs per month, well short of last year’s monthly average of 229,000 new jobs. Reducing burdensome regulations and updating our outdated tax code would untie the hands of job creators and allow them to hire more workers, which would help our economy reach its full potential.”