WASHINGTON, D.C. – Congressman Bob Latta (R-Bowling Green) released the following statement on the February jobs report which showed that wages grew 3.4% in the last year, the highest wage growth in a decade. In addition, unemployment dropped to 3.8%. Job creation was low at 20,000 new jobs after a very strong January jobs report.
“Wage growth growing at the fastest rate since 2009 is a major positive that everyone should be taking away from this report. More money in the pockets of American workers is something we should all applaud. The unemployment rate dropping to 3.8% is another piece of good news. At the same time, the new jobs number is disappointing. There are plenty of reasons for the low number – strong job growth in January, a month of very cold weather in February, and possible residual effects from the government shutdown. We’ll have to look at the coming jobs reports to really get a full picture of our current economy.
“I do believe that discussions about massive new government programs like the ‘Green New Deal’ or ‘Medicare for All’ may be stifling some of the economic growth we had been seeing. When businesses think their taxes are going up, they invest less. We need to continue to support and implement pro-growth policies that led to the hottest economy in decades.”