Washington, DC (January 6, 2022) — Today, the U.S. Department of Labor released its monthly jobs report showing the US economy added 223,000 jobs in December. The unemployment rate decreased to 3.5%. The labor force participation (LFPR) rate was little changed at 62.3%.
Alfredo Ortiz, president and CEO of the Job Creators Network, released the following statement:
“Today’s jobs report reveals Americans continue to get poorer every day under the Biden administration, with average wages growing significantly slower than inflation. This persistent decline in living standards should incentivize the new Congress sworn in this week to get down to business to reverse this trend.
“Wage erosion is especially painful for minorities, who tend to earn less than white Americans. In my new book, The Real Race Revolutionaries: How Minority Entrepreneurship Can Overcome Racial and Economic Divides, I explain how minority entrepreneurship can bridge such racial economic divides. The new Congress can help boost minority entrepreneurship, close racial income gaps, and jumpstart real wages by passing pro-growth reforms such as making the Tax Cuts and Jobs Act permanent.”