Sen. Martin Heinrich

JEC News:

WASHINGTON, D.C. — Sen. Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC) released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 187,000 in August and the unemployment rate rose slightly to 3.8 percent.

The unemployment rate was 5.3 percent for Black workers, 4.9 percent for Hispanic workers, 3.4 percent for white workers, 3.1 percent for Asian workers, and 8.3 percent (not seasonally adjusted) for American Indian and Alaska Native workers. 

“Today’s numbers show that job growth is strong. They also provide a clear indication that the labor market is beginning to cool. The Federal Reserve should take note of this signal and decline to impose another rate hike this month. 

“As Congress continues federal budget negotiations, we need to remember that smart spending will deliver long term benefits for American families and workers and for our local and national economies. And we must reject the threats coming from certain House Republicans to force a government shutdown rather than negotiate a bipartisan federal funding bill.”