February Jobs Report Shows Real Wages Have Declined Every Month for Nearly Two Years

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the February jobs report released today:

“Today’s jobs report shows that American workers’ real wages have declined every month for nearly two years. The number of relatively high-paying transportation and warehousing jobs fell, while lower-paying leisure and hospitality jobs rose. Unemployment also ticked up, and the labor force participation rate remains below its pre-pandemic peak. This steady erosion of American living standards is a direct result of President Biden and Congressional Democrats’ trillions of dollars in needless spending that diluted the currency’s value and spurred ongoing high inflation. President Biden’s budget announced this week would further lower real wages by introducing inflationary spending programs such as a massive child tax credit expansion. His budget also attacks small business job creators with dramatic tax increases that would make it harder for them to raise wages. To finally give American workers a raise and meaningfully boost labor force participation, Congress must take the opposite approach and pass pro-growth policy that cuts reckless spending and makes the Tax Cuts and Jobs Act permanent.”