Chairman Scott Statement on October Jobs Report
WASHINGTON, DC – Chairman Bobby Scott (VA-03) issued the following statement after the Bureau of Labor Statistics announced that the economy added 128,000 jobs in October with the unemployment rate at 3.6 percent.
“Today’s report– combined with other recent economic data – raises more questions about the impact of the Trump administration’s policies on the American economy. Despite 108 consecutive months of private-sector job growth (75 of which were under the Obama administration) wages for American workers are still failing to keep pace with the cost of living.
“The president promised that his $1.9 trillion tax cut, which delivered more than 80 percent of its benefits to the wealthiest 1 percent and corporations, would benefit workers and pay for itself by spurring increased business investment. But in the past week, we learned that business investment declined for a second straight quarter, and that the federal deficit surged to its highest level in seven years.
“We must invest in creating an economy where all Americans can succeed. Yesterday, the Committee advanced a comprehensive proposal that would expand economic opportunity to people across the country by overhauling our higher education system. The College Affordability Act (H.R. 4674) will empower both young people and adult learners to develop the skills they need to find and keep well-paying jobs, at only a fraction of the cost of the GOP tax cut for the wealthy.”