Washington, DC (December 2, 2022)— Today, the U.S. Department of Labor released its monthly jobs report showing the US economy added 263,000 jobs in November. The unemployment rate was unchanged at 3.7%.The labor force participation (LFPR) rate was little changed at 62.1%.
Alfredo Ortiz, President and CEO of the Job Creators Network (JCN), released the following statement:
“The jobs report shows that for the 20th consecutive month, Americans’ real wages declined, making it more difficult for ordinary Americans to get by. The topline jobs number says little of the realities of the Biden economy. The labor force participation rate declined for the third consecutive month. Our latest small business poll found that small business owners have an overwhelmingly negative outlook, clearly based on their experiences of the past two years. Not only do the majority of small businesses owner rate the economy as poor, but they also think it’s only getting worse and the conditions for small businesses are worsening along with it. Biden and Congress should be trying to fix our economic problems, but instead, they are trying to make them worse by passing even more spending as part of their planned omnibus legislation. January, when Republicans will take the House, can’t come soon enough.”