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 preliminary annual benchmark review of employment data for March 2024, revealing that there were 818,000 fewer jobs than previously reported.
"Based on more comprehensive data released from state unemployment tax records, the Biden Bureau of Labor Statistics acknowledges they were way off on the number of new jobs created between March of 2023 and March of 2024 by almost one million or 30%, which is five times their average margin of error," stated Chairman Arrington.
He further added, "The economy is the top issue in this presidential race and the recent downwardly revised job numbers taken together with persistently high prices and interest rates bellies a much weaker Biden-Harris economy than we were led to believe."
Arrington criticized the current administration's economic policies: "The tax, spend, and regulate economic agenda of Biden-Harris has failed and no one knows that better than working Americans, which is why for six straight months, according to the Consumer Confidence Index, more Americans believe we are headed for a recession.”
Further information on today's report can be found through statements from the House Budget Committee.
For additional insights:
- Read Chairman Arrington’s statement on the July jobs report.
- Read Chairman Arrington’s statement on consumer pessimism about their current economic standing in July.
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