Job Creators Network Reacts to August Jobs Report
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to today’s August jobs report, which showed 187,000 jobs were created last month and the unemployment rate rose to 3.8%:
“There’s no question about it now: The labor market is weakening. August marks the third consecutive month with fewer than 200,000 jobs created. Prior months’ job creation numbers were also massively revised down by 110,000 in a trend that is becoming commonplace. And real wages grew slower than core inflation, continuing the nation’s decline in living standards.
“Given the challenges facing American small businesses, which create two-thirds of new jobs, this labor market weakness is no surprise. Small businesses are facing a one-two punch of high inflation and high interest rates due to Bidenomics. President Biden and Congressional Democrats are directly responsible for this difficult economic environment due to their reckless spending and anti-energy industrial policy. To overcome these challenges and allow small businesses to broadly hire and raise real wages again, Congress should advance legislation that implements the American Small Business Prosperity Plan, a pro-growth policy playbook that reduces inflation, increases access to credit, and improves the American small business environment.”