JEC News:

WASHINGTON, D.C.— U.S. Sen. Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement today after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 199,000 in November and the unemployment rate fell slightly to 3.7 percent.

The unemployment rate was 5.8 percent for Black workers, 4.6 percent for Hispanic workers, 3.3 percent for white workers, 3.5 percent for Asian workers, and 6.1 percent (not seasonally adjusted) for American Indian and Alaska Native workers. 

“We’re heading into the holiday season with a strong economy. We’ve had 34 consecutive months of job growth. Our economy has gained nearly 14 million jobs under President Biden – the fastest job growth in history. Wages continue to grow, especially for low- and middle-income families, and have outpaced inflation in recent months.  

“The next few weeks are an important time for American small businesses, who employ nearly half of all American workers. As you do your holiday shopping and celebrate with friends and family, remember to shop, eat and seek entertainment at the small businesses that make our communities and our economy thrive.”