Press ReleaseJune 1, 2018

Unemployment Drops to Lowest Level Since 2000, Labor Market Tightens

As the jobs market inches towards full-employment, the economic fuel provided by tax cuts and regulatory slashes will push employers to compete for employees and highlight the need for more skilled labor, says Job Creators Network

Washington, D.C. (April 1, 2018)—The new report released today by the Bureau of Labor Statistics shows the continued strengthening of the U.S. economy and another downtick in the unemployment rate. According to the new data, 223,000 jobs were created in May and the unemployment rate dropped even further to 3.8 percent. Additionally, wages rose by 8 cents, a 2.7 percent year-over-year increase.

“The prospering of the U.S. economy is not a surprise” said JCN President and CEO, Alfredo Ortiz. “The set of policies pursued by the current administration is a textbook recipe for job creation, wage increases, and expansion. Lower taxes give small business owners the opportunity to reinvest back into their enterprises and removing regulatory shackles further reduces the cost of conducting business—with the most recent improvement being the Dodd-Frank rollback.”

“As the economy continues to advance and the labor market tightens, the big issue for small businesses now becomes finding employees with the right skill set to fill open positions,” he continued. “The problem is no longer about Americans landing a job, it’s about small businesses finding qualified workers.”

The current strength of the U.S. economy is being highlighted by JCN’s Tax Cuts Work campaign. The campaign—which consists of a nationwide bus tour, digital and print advertising, and strategic media engagement—is educating voters and lawmakers about the benefits of the tax cuts legislation, along with other regulatory reductions.