Latta: Stellar Economic Numbers a Sign That Pro-Growth Policies are Working
May jobs report shows unemployment rate matches lowest level of last 49 years; wages on the rise
Congressman Bob Latta (R-Bowling Green) released the following statement after the May jobs report exceeded expectations by showing 223,000 jobs were created, wages are on the rise, and unemployment matching its lowest rate of the last 49 years. According to the Labor Department figures, average hourly earnings increased by 2.7 percent from a year earlier. Unemployment now stands at 3.8%, matching the same rate as April 2000 as the lowest since 1969.
“Whether it’s the passage of tax cuts or cutting government red tape, pro-growth policies under this Republican-led Congress and President are working,” said Latta. “With unemployment at 3.8%, May’s jobs numbers are historic. The last time the unemployment rate was lower, Butch Cassidy and Sundance Kid was in the theaters and Tom Seaver was leading the Mets to a World Series title.
“Of course, there is more to the jobs report than just the numbers. When you combine rising wages with tax relief from the Tax Cuts and Jobs Act, families have more money in their pockets to pay the bills, put food on the table, and plan for their future. It’s amazing what can happen when you reduce the regulatory and financial burden on our innovators, small businesses, and the hardworking men and women that drive our economy.”