Today, the U.S. Department of Labor released its monthly jobs report. The US economy added 431,000 jobs in March. The unemployment rate fell from 3.8% to 3.6%. The labor force participation rate rose from 62.3% to 63.4%.
Alfredo Ortiz, President and CEO of the Job Creators Network (JCN), released the following statement:
“Jobs are returning in spite of President Biden’s policies not because of them. The economy is still about 1.6 million jobs short of its pre-pandemic peak. Real wages, adjusted for the historic 7.9 percent inflation, are falling. The jobs day data confirms that Bidenflation is causing a “Biden pay cut” that’s resulting in lower living standards for Americans. Biden refuses to accept responsibility or change course. His massive budget announced this week is full of more reckless spending and green energy policies that would further accelerate inflation and make Americans even poorer. And his proposed $2.5 trillion in tax increases would slow economic opportunity and wage growth even more.”