Friday, December 2, 2016

CONYERS Applauds November Job Report's Low Unemployment Rate

Washington, DC – Congressman John Conyers, Jr. (MI-13) founder and Co-Chair of the Congressional Full Employment Caucus, today released the following statement on the November jobs report:

Dean of the U.S. House
of Representatives
John Conyers, Jr.
“November’s jobs report is the latest piece of good news about our job market, which has consistently gained strength under President Obama’s leadership.  The unemployment rate fell to 4.6 percent and the economy added 178,000 jobs in November, extending the longest streak of job growth on record. I am also pleased to see that 220,000 fewer Americans are involuntarily working part-time, meaning they wanted, but were unable to find, full-time work. This is a new low mark since onset of the Great Recession that was ushered in by Republican economic mismanagement.  

“This is excellent progress, and all fair observers must recognize and praise President Obama’s terrific economic management. However, there is more work to do to ensure that we achieve a true full employment economy with abundant job opportunities and rising wages for all. At 8.1 percent, the African-American unemployment rate is nearly twice that of whites, while the Hispanic rate is also elevated at 5.7 percent. Also concerning, is that decline in the unemployment rate may be partially due to workers giving up searching for work, which is exemplified by decrease in the “prime age (25-54) employment-to-population ratio” from 78.2 percent to 78.1 percent. This is still an improvement of 0.7 percentage points from last year, however, showing that the overall trend is positive. Finally, wage growth fell 3 cents in November after a rapid uptick in October, demonstrating that wages are not accelerating at a rate that should raise concerns over inflation. In fact, the American people deserve a raise, which is why Republicans must stop blocking legislation to increase the minimum wage.

“I continue to urge all of our key policymaking institutions, from Congress to the Federal Reserve, to continue to take actions that will help us achieve a full employment economy. Congress should pass job-creating bills, such as my legislation, H.R. 1000, Humphrey-Hawkins 21st Century Full Employment and Training Act, while the Federal Reserve should not slow job and wage growth by raising interest rates.”

The Congressional Full Employment Caucus was launched in February 2014. The Congressional Full Employment Caucus serves as a platform and working group for Members of Congress who are dedicated to identifying solutions and advocating for legislative action to reduce unemployment.

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