Job Creators Network Responds to October Jobs Report
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to the October jobs report released today that showed 150,000 jobs were created last month, the unemployment rate rose to 3.9%, and the labor force participation rate decreased to 62.7%.
“Cracks in the labor market continue to emerge. Job growth came in below expectations and well below the recent average. August and September job creation was revised down by more than 100,000, taking the sheen off the September jobs report. There are now nearly one million more unemployed Americans than in April of this year. Job creation continues to disproportionately occur in unproductive government jobs, which made up over one-third of new jobs last month. And real wages declined last month, making Americans poorer. This poor jobs report is just another gathering economic storm cloud under President Biden as a result of his poor economic leadership.”