Slower Economic Growth Is Taking a Toll on Job Creation (Rep. Carolyn Maloney)

Last week, the Bureau of Labor Statistics (BLS) reported that the unemployment rate edged up to 4.5 percent, and the U.S. economy added only 88,000 jobs in April – far below the 125,000 to 150,000 needed each month to keep pace with the expanding economy.  In fact, April’s job growth rate was the slowest monthly job growth rate in two and a half years.  Job creation in February and March was also revised down from earlier estimates, so the economy is adding jobs at an even slower pace than previously reported.

The BLS also reported that weekly nominal earnings fell in April. With inflation growing faster than wages, working families are struggling to just keep up with their living expenses.

It’s clear that the President’s policies are not delivering the economic security or prosperity that America’s hardworking families deserve.  The Administration should make job creation a higher priority.