Jobs & the Economy
Throughout the 117th Congress, House Democrats have partnered with President Biden to enact policies that expand economic opportunity for businesses, workers, and communities across America. Under President Biden and Congressional Democrats, the unemployment rate is at its lowest in more than 50 years with more than 10 million jobs created, helping more of our people get ahead in today’s economy and Make It In America.
Democrats pursue an economic agenda that helps American businesses create good-paying jobs and ensure that workers have the tools not only to get by but to get ahead in our global economy. From raising the minimum wage to providing skills training and apprenticeship opportunities to ensuring equal pay for equal work, from making childcare more affordable to making it easier to save for retirement, Democrats’ economic policies are aimed at helping workers and their families attain real economic security at every stage of life.
Democrats have also delivered historic legislation investing in infrastructure and greater access to high-speed internet, taking the lead in the clean-energy economy, and supporting innovation and entrepreneurship. The generational Bipartisan Infrastructure Law has already begun to expand economic opportunity for Americans in communities across the country and takes action to repair our nation’s roads, bridges, ports, and other infrastructure while creating nearly 1.5 million jobs annually over the next decade. It contains the first major American investment in climate resilience to help communities upgrade their critical infrastructure and mitigate the impact of climate change-driven extreme weather. Likewise, the Inflation Reduction Act also advances America’s clean energy goals, turbocharging clean energy research and transmission while promoting electric vehicle domestic manufacturing to reduce American dependence on gasoline while revitalizing our auto industry.
The CHIPS and Science Act includes bipartisan measures to revitalize the domestic semiconductor industry and spur research. By strengthening domestic supply chains, this law acts directly to accelerate American innovation in the long-term while acting immediately to address inflation and create good paying jobs. House Democrats will continue to champion skills training and education at every level – from early childhood learning through higher education – to prepare our people for success and advancement in a changing economy. In all of these efforts, Democrats will continue to look for ways to make access to opportunities more equitable and to combat the lingering effects of legalized discrimination that continue to make it harder for minorities to access credit for loans, seek investment capital for startups, and build wealth to pass on to the next generation.
With historic job creation under President Biden, House Democrats will continue to advance policies that expand economic opportunity for working families, support small businesses, and create better-paying jobs.
“Today’s jobs report from the Bureau of Labor Statistics, which shows that our economy added 126,000 private sector jobs in September and that the unemployment rate dropped to 7.2%, confirms that our recovery was still on the right track before reckless and irresponsible actions by House Republicans led to a shutdown of the federal government and threatened an unprecedented default on America’s obligations.
In the 10th day of the GOP government shutdown, Republicans are still no closer to their stated goal of dismantling the Affordable Care Act, but they have managed to accomplish something— receiving the disdain of the business community:
Republicans’ economic games are having a real-world impact on Americans’ economic confidence, according to a new poll by Gallup. According to a report in The Hill:
Wall Street, business leaders, and economists have all called for immediate action by Congress to ensure that America pays its bills and doesn’t default on its financial obligations. The latest warning comes from the National Association of Manufacturers, who sent a letter today emphasizing that the “United States must meet our financial obligations to ensure global investors’ continuing confidence in the nation’s creditworthiness.” We couldn’t agree more.
Amongst all the other impacts we’ve seen, the GOP shutdown has caused Americans’ confidence in our economy to drop dramatically. A new Gallup poll shows the Economic Confidence Index has dropped to the lowest average since December 2011. From Gallup Economy:
“I join in marking Manufacturing Day, an opportunity for America’s manufacturing businesses to highlight the products they make, their talented workforce, and their role in growing our economy and creating jobs.
For Republicans who thought there wouldn’t be any impact when they shut down the government, think again. Can’t wait to hear how they justify shutting down the government over the Affordable Care Act to companies and manufacturers are preparing for delays and furloughs:
We already knew that economists predicted a two week shutdown could cut economic growth by 0.3%, but here’s a new startling statistic about the impact of the Republican government shutdown:
“Today’s report from the Institute for Supply Management shows that our manufacturing sector grew last month at its fastest pace in almost two and a half years, only to be rewarded with an unnecessary government shutdown amid damaging sequester cuts.
“The President’s announcement of a new Advanced Manufacturing Partnership Steering Committee, to continue the work begun with the launch of the Advanced Manufacturing Partnership two years ago, is a reminder that the Obama Administration remains focused on creating jobs and strengthening American manufacturing – and Congress should be as well.