Maloney Statement on August Jobs Report
WASHINGTON– Congresswoman Carolyn B. Maloney (D-N.Y.), Ranking Democrat on the U.S. Congress Joint Economic Committee (JEC), Friday released the following statement on the latest jobs report. The Department of Labor announced that the economy added 173,000 nonfarm jobs in August, the unemployment rate dropped to 5.1 percent, and average hourly earnings for all nonfarm, private-sector employees increased eight cents to $25.09.
“I’m pleased that the August jobs report shows a decrease in the unemployment rate and a bump up in hourly earnings. Although jobs were added at a slower pace in August than in recent months, the unemployment rate is the lowest it has been since April 2008.
“The improving jobs market means not only that more people are working but that they are being paid higher wages. Hourly earnings have increased 2.2 percent over the past 12 months, which bodes well for those at the bottom of the economic ladder.
“Given volatile markets and unpredictable global dynamics, we must proceed cautiously. Congress should pass reasonable budget and avoid a government shutdown at all costs. And, as part of that budget, we must increase investments in infrastructure, expand trade into new markets, and raise the minimum wage.
“Although the economy has added private-sector jobs for 66 consecutive months – the longest streak on record – we will continue to work on behalf of those still struggling to find a job and achieve a living wage.”