Lubbock Times

Today, the Bureau of Labor Statistics (BLS) released its jobs report for August 2024, revealing that 142,000 new jobs were created during the month.

House Budget Committee Chairman Jodey Arrington (R-TX) responded to the August jobs numbers: "The Biden-Harris Administration’s tax-and-spend policies have unleashed widespread economic pain throughout our nation, with stubborn inflation and stagnant job growth continuing to plague American families. Today’s report reminds us that the sustained economic hardship facing working people continues. Prior job gains were revised down yet again, with an abysmal 89,000 jobs added in July."

Arrington continued, "Joe Biden and Kamala Harris continue to scoff at the economic hardship facing working people, maintaining that their disastrous policies are ‘building up the middle class.’ To make matters worse, the Biden-Harris Bureau of Labor Statistics recently lowered its year-over-year employment estimate for March 2024 by nearly 1 million jobs, acknowledging that the economy is much weaker than previously believed. American workers cannot afford four more years of Kamalanomics.”

Under the Biden-Harris Administration, unchecked spending and regulations have impacted the economy significantly. The unemployment rate has risen by almost a full percent since early 2023. A disappointing jobs report last month was exacerbated by another downward revision this month—alongside BLS's recent adjustment reducing nearly 1 million jobs from previous estimates. Concurrently, Americans face higher prices and financial market volatility.

Chairman Arrington highlighted several related statements:

- On consumer pessimism about their current economic standing in August.

- On BLS revising down its preliminary annual benchmark review of employment data by 818,000 jobs.

- On the July inflation rate.

- On the Federal Reserve not lowering interest rates in July.

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