Jobs & the Economy

Jobs & the Economy
Creating jobs and expanding economic opportunity continues to be Democrats’ top priority. 
Creating jobs and expanding economic opportunity continues to be Democrats’ top priority.  Too many Americans were struggling to get by even before the COVID-19 pandemic, and the economic policies of the past four years were only making income and wealth inequality worse.  That has to change, and it’s why Democrats are partnering with President Biden to enact policies that help businesses, workers, and communities build back better and stronger from this pandemic.  

Democrats will pursue an economic agenda that helps American businesses create good jobs and ensure that workers have the tools not only to get by but to get ahead.  From raising the minimum wage to ensuring equal pay for equal work, from making childcare more affordable to making it easier to save for retirement, Democrats’ economic policies will be aimed at helping workers and their families attain real economic security.  By investing in infrastructure and greater access to high-speed internet, taking the lead in the clean-energy economy, and supporting innovation and entrepreneurship, Democrats will partner with the Biden Administration to create jobs that pay well and won’t be outsourced.  Moreover, we will continue to champion access to skills training and education at every level – from early childhood learning through higher education – to prepare our people for success and advancement in a changing economy.  In all of these efforts, Democrats will continue to look for ways to make access to opportunities more equitable and to combat the lingering effects of legalized discrimination that continue to make it harder for minorities to access credit for loans, seek investment capital for startups, and build wealth to pass on to the next generation.  

When Democrats last held the majority and our nation faced an economic crisis, we passed the American Recovery and Reinvestment Act, which cut taxes for 95% of American families and led the way to creating two million new private sector jobs.  Democrats also enacted Wall Street reform legislation that restored common sense rules to protect families and our economy from the excesses of big banks and help prevent a financial collapse from happening again.  Now, as we confront an even more damaging economic crisis from COVID-19, House Democrats will work hand-in-hand with the Biden Administration to meet this challenge through the American Rescue Plan. 
Jobs & the Economy Related
While the jobs numbers released today demonstrate an improvement from the period after this pandemic first forced the closure of large parts of our economy, the sharp rise in COVID-19 cases and the subsequent decision in many states to pause or reverse re-opening plans threatens to halt the economic progress we had been making and further delay the recovery for millions of Americans who remain out of work.  Having recovered one-third of jobs lost to this crisis is good news; but the reality that two-thirds of Americans who lost their jobs are still out of work is a sobering reality.  As the extraordinary response of the CARES Act winds down, we are still a long way from a full recovery.
 
7/2/20
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today on the May jobs report: 

6/5/20
Earlier this month, the House passed the Heroes Act to fix issues that had arisen with regard to the initial drafting of the CARES Act, including provisions that created the Paycheck Protection Program.  
5/28/20
April’s jobs report reveals the overwhelming extent to which measures necessary to combat the COVID-19 pandemic have affected the economic well being of millions of Americans.
5/8/20
With another 3.8 million Americans filing for unemployment insurance last week, bringing the six week total to nearly one in five working Americans, it is clear that Congress must do more to help those harmed by the economic impacts of our fight against the coronavirus pandemic.
4/30/20
The steep contraction in our economy in the first quarter of 2020 is alarming but not unexpected. We know this is only the leading edge of the downturn, and economic growth, unemployment, and poverty in the second quarter will be much worse.
4/29/20
The House has taken action today, but our work is far from complete.  There is broad understanding that the scope of this crisis is far wider than the scope of the relief offered in today’s interim bill and that therefore the House will need to take further action soon. 
4/23/20
Today’s report that an additional 6.6 million Americans filed for unemployment insurance last week reflects the depth of this crisis and its impact on the economic well-being of working families across the country.
4/9/20
This morning's jobs report reflects the loss of jobs as the economy shuts down while we work to stop the spread of coronavirus.  Unfortunately, this report doesn't even show the full extent of the economic pain millions of Americans are experiencing. The unemployment rate, which went from 3.5% to 4.4%, was the largest monthly rate increase since 1975 - and it only reflects data through the middle of March, before many stay-at-home orders began. 
 
4/3/20
Each year, on Equal Pay Day, we count the number of extra weeks from the start of the new year that women have to work, on average, to earn the same pay as men in the previous year for the same work.  This pay gap is even more pronounced for women of color. 
3/31/20
Tonight, the President finally did what he should have done weeks ago: take this crisis seriously and address the nation about his Administration's strategy to deal with coronavirus. While he still failed to confront the hard truths of this challenge or answer important questions - including why officials still do not have enough testing kits and how he is going to address that shortage - President Trump at last shared steps he intends to take in the days and weeks ahead. 
3/11/20
Economy Weekly: Week of March 2, 2020
3/6/20
While the February jobs report continues to show a record streak of job gains going back more than nine years, we also are learning in real time from both our financial markets and from Main Street businesses that we must be prepared for disruptions in global supply chains and lower consumer demand that could impact our economy and working families as a result of the coronavirus. This jobs report also shows a slowdown in wage growth that cannot be ignored. 
3/6/20
Economy Weekly: Week of February 10, 2020
2/14/20
The reviews of the President’s budget are in, and they are not kind. They point out the unrealistic economic growth assumptions, the massive deficits and debt, and his broken promise to protect programs like Medicare. Check it out:

From Politico:

“President Donald Trump sent another fantasy budget to Congress on Monday, thumbing his nose at the very spending levels he signed into law last summer.”

2/11/20
President Trump’s budget released yesterday clearly outlines his priorities: the wealthiest Americans come first, while working families are left behind. After he promised to protect Medicare, Medicaid, and access to affordable health care, the President’s budget proposes destructive cuts to these programs and continues this Administration’s assault on American’s health care. With the budget revealing even more of the President’s hypocrisy, we know you are dying to see how far the GOP will go to defend him. Don’t worry, we’ve got some questions already prepared for you:
    2/11/20
    Yesterday, the President released his budget proposal for Fiscal Year 2021 and made his priorities clear: he continues to put the wealthiest Americans first at the expense of working families. The budget proposal makes tax cuts for the wealthy permanent while breaking his promises to working families on health care, the economy, and other areas that help Americans get ahead and keep them safe.
     
    2/11/20
    The budget released by the Trump administration Monday relies on a set of false assumptions about our economy, reflecting the distorted vision laid out in last week’s State of the Union address. In that speech, President Trump lied again and again about his record on the economy. It is critical that Americans know the facts.
    2/11/20
    President Trump’s FY2021 budget is replete with dangerous proposals that leave working families to fend for themselves in a changing and uncertain economy.  This budget makes the President’s priorities clear: the wealthiest Americans come first ahead of working Americans who are trying to get by and get ahead.
    2/10/20
    Economy Weekly: Week of February 3, 2020
     
    2/7/20
    House Majority Leader Steny H. Hoyer (MD) released a video today pushing back on the falsehoods in President Trump’s State of the Union address, in which he took credit for the strong economy he inherited and misled the American people about his record and policies, which are failing working families.
    2/6/20
    Madam Speaker, I rise in strong support of this legislation, which will protect workers’ right to organize and bargain collectively.
    2/6/20
    Axios provided a reality check for President Trump this morning: you can’t protect Americans with pre-existing conditions if you sabotage them in court:

    President Trump claimed during the State of the Union that he will "always protect patients with pre-existing conditions" — a statement that's misleading at best, writes Axios' Caitlin Owens.
      2/5/20
      This evening, President Trump had an opportunity to show the American people and the Congress that he takes seriously the challenges we face as a nation and his responsibility as president to rally the country together to meet them.  Instead, he doubled-down on the rank partisanship and divisiveness that have characterized his presidency, using his address to attack those who disagree with him and to take credit for the successes of the prior Administration while misleading on his own record...
      2/4/20