Job Creators Network Reacts to Weekly Unemployment Claims Report

Washington, DC (August 20, 2020) — New data released by the Department of Labor reveals the number of first-time unemployment claims was 1.106 million last week.

“As Vice President Pence told JCN’s members last week, ‘In the last three months, we’ve gained 9.3 million jobs – more than during the entire Obama Administration.  That’s a credit to America’s job creators and entrepreneurs.’ We continue to move in the right direction, with the number of first-time jobless claims falling in 17 of the past 20 weeks. The President’s recent executive order suspending the payroll tax will be a boon to 90 percent of American workers, amounting to a net pay increase of six percent. To keep our momentum going, Congress should codify the President’s executive order into legislation. Otherwise, if Joe Biden is elected, he will force everyone to pay the money back.  This would be on top of Biden’s $4 trillion tax increase. Additionally, Congress should pass a standalone bill renewing the Paycheck Protection Program and pass liability protection against Covid-related frivolous lawsuits.”

This week, RealClearMarkets published an op-ed by Mr. Ortiz and Steve Moore, a member of President Trump’s economic recovery task force, about the benefits of the payroll tax suspension. To read the op-ed click here.