Jobs Growth Shatters Expectations
Washington, D.C. (February 1, 2019)—The latest employment data from the Bureau of Labor Statistics showcases the most recent development in the country’s economic upswing, said the Job Creators Network.
“Despite what some financial alarmists claim, even with the government shutdown, the economy continues to perform well,” said Alfredo Ortiz, JCN President and CEO. “As we’ve said, the government shutdown did not deter the enthusiasm of job creators of all sizes across the country. The fundamentals of our economy remain strong and the envy of the world, a result of entrepreneurs continuing to invest in their employees and businesses. Absent any new anti-business policies, there’s no reason the economy shouldn’t continue to climb.”
According to new Labor Department data, 304,000 jobs were created in January—the largest jump since February of last year—and wages rose by 3.2 percent year-over-year with non-supervisory wages continuing to outpace supervisory increases. Moreover, the labor force participation rate ticked upward—meaning that more people are entering the workforce—which contributed to a slight rise in the unemployment rate to 4 percent.
“However, even with this bright economic outlook, there are dark clouds on the horizon,” continued Ortiz. “Democrats continue to wheel out a policy agenda that would kill jobs and suppress growth. These include proposals like Medicare for All, a $15 minimum wage and radical tax hikes that would punish upward economic mobility. Congress should stick to finding ways that encourage economic growth, not experiment with radical reforms and government mandates that threaten to muzzle it.”