Jodey Arrington - Chairman of the House Budget Committee | Official U.S. House headshot
Jodey Arrington - Chairman of the House Budget Committee | Official U.S. House headshot
The Bureau of Labor Statistics (BLS) released its jobs report for June 2024, revealing the creation of 206,000 new jobs. This figure is 12,000 fewer than the number of jobs created in May. The unemployment rate rose to 4.1 percent, marking the highest level since November 2021. Additionally, job gains for April and May were revised downward by a combined total of 111,000 compared to previous projections.
House Budget Committee Chairman Jodey Arrington (R-TX) commented on the June jobs numbers: "Policies have consequences and Biden’s tax and spend agenda has resulted in a weaker economy and serious financial problems for working families. With first quarter economic output growing by less than 2 percent, inflation remaining too high, an underwhelming job market with over a hundred thousand fewer jobs than previously projected, and now rising unemployment, there are real concerns about stagflation."
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