Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its November jobs report showing that non-farm payroll employment increased by 263,000 and annual wages grew by 5.1%:
"The November jobs report marks the twenty-second straight month of strong jobs gains under the Biden Administration. Since President Biden took office, our economy has added 10.5 million jobs and the unemployment rate hovers near a historic low of 3.7%. Throughout the 117th Congress, Democrats have worked to empower workers, invest in small businesses, and fuel the American economy. Today, we are seeing these efforts pay off in the form of a historic labor market with strong wage growth and low unemployment. Legislation like the American Rescue Plan, Bipartisan Infrastructure Bill, and the Inflation Reduction Act enabled a rapid recovery from the COVID recession and put our economy in a strong position moving forward.
"Despite this tremendous progress, issues like global inflation continue to pose serious challenges for small businesses. Democrats have been working diligently to lower costs for working families by making necessities like healthcare and energy more affordable. Next Congress, we must build on these efforts and continue to work toward creating an economy where all Americans and small businesses can thrive."