6 months ago
30
Today, the Bureau of Labor Statistics released the September Jobs Report, which showed the economy churned out 336,000 jobs last month, soaring past expectations. The unemployment rate held steady at 3.8% and wages grew 4.2% over the past 12 months, outpacing inflation. Groundwork’s Acting Executive Director Kitty Richards reacted with the following statement:
“This is a fantastic jobs report for workers and families. Despite chaos in Congress and aggressive interest rate hikes by the Fed, our labor market remains remarkably resilient and strong. The big public investments passed into law over the past several years are creating jobs, bringing more people into the labor market, pushing up wages, and empowering workers to demand better than the pre-pandemic status quo.
“But there is danger on the horizon, as some in Congress attempt to slash the very investments that have created this historic economy. Last month we saw what happens when critical supports like the Child Tax Credit expire. We got the largest increase in child poverty in history during the fastest economic recovery on record. This month we are facing the resumption of student loan payments for cash-strapped families and a major pullback in funding for the child care programs that have allowed women to return to the labor force at record rates.
“Our economy has shown remarkable strength and resiliency, but we must continue to build on this historic momentum for workers and families. Putting this fantastic labor market in jeopardy with more austerity and interest rate hikes would be a colossal mistake.”
