The U.S. economy added 313,000 jobs in February, including 287,000 private sector jobs, and the unemployment rate remained at 4.1 percent, according to the U.S. Bureau of Labor Statistics
“This employment report is great news and demonstrates how tax cuts and regulatory reform have created real momentum in our economy,” Rep. Erik Paulsen (R-MN), chairman of the Joint Economic Committee, said. “In the first two months of this year, well over half a million jobs have been created—550,000—and the gains from the last month alone cover a broad base, including 61,000 new jobs in construction, 50,000 in retail, 50,000 in professional services, and 31,000 in manufacturing. Strong economic policy is creating new opportunities for Americans eager to return to the workforce.”
The size of the labor force rose by 806,000 (0.3 percent) in February to 63.0 percent.
“Americans called for relief from the shackles of government regulation and taxation, and Congress listened. The Tax Cuts and Jobs Act and regulatory reform are already paying dividends to the American worker,” Paulsen said.
Sen. Martin Heinrich (D-NM), ranking Member of the Joint Economic Committee, said the tax cut plan has still not delivered on promised wage increases.
“Working families are still waiting for the wage growth they deserve – and were promised,” Heinrich said. “The average worker’s wages have grown less than 5 percent over the last 35 years, after adjusting for inflation. We have to take real steps to make sure families see economic gains—and the Republican tax scam simply doesn’t cut it. The Republican law serves special interests at the expense of our children, who will deal with the debt burden of the partisan tax bill for generations to come. The gains corporations are seeing from the tax bill are disproportionately going to executives instead of workers. For every dollar being pocketed by investors, only 3 cents is making its way to workers.”
Heinrich said average weekly wages have increased $7.97. He said JEC Democrats will hold President Donald Trump to his promise that American families would see a $4,000 annual raise after the tax plan.