FOR IMMEDIATE RELEASE: September 2, 2022
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NPR: The economy added 315,000 jobs, showcasing a labor market that is still strong

CNBC: U.S. economy added 315,000 jobs in August as companies keep up hiring pace

Bloomberg: US Employers Add 315,000 Jobs as More Workers Join Labor Force

WASHINGTON, D.C. — With today’s jobs report, we see yet another sign that President Biden’s economic policies are working as we continue to transition from a historic recovery to a period of strong, steady growth. Thanks to the president’s policies, America has gone from on the mend to on the move, as job growth continues, Americans are back to work, and there continue to be signs that inflation is beginning to ease.

“President Biden is building an economy that works for working families – and measure after measure shows his policies are delivering,” said Building Back Together Executive Director Danielle Melfi. “From the Bipartisan Infrastructure Law, to the CHIPS and Science Act, to the Inflation Reduction Act, the president’s economic agenda is having a significant, positive impact on the daily lives of working and middle class Americans. He’s going to continue to fight to lower costs and increase opportunity for working families moving forward – even as MAGA Republicans are standing in the way, pushing their extremist policies and protecting special interests, the ultra wealthy, and big corporations.”

President Biden has overseen historic economic growth since taking office.

  • Today’s jobs report shows 315,000 jobs added in August as the U.S. transitions to a period of strong, stable growth that works for working families.
  • Today’s report also shows the labor force participation rate rising, a sign of economic resilience as more Americans are working or looking for work.
  • Not only are workers employed in record numbers in the U.S., but more have full-time jobs now than did in February 2020, before the pandemic began.
  • Consumer confidence also rose this month, as lower gas prices and continued economic growth continue to show that President Biden’s economic policies are working.

We are also seeing significant manufacturing job growth as President Biden brings these essential jobs back to the U.S.

  • During President Biden’s first year in office, the American economy created 660,000 manufacturing jobs, and more manufacturing jobs on average per month than any other president in the last 50 years.
  • This month alone, we’ve seen historic investments by American companies to create manufacturing jobs here at home:
    • The largest American solar panel manufacturer announced plans to increase their domestic production by around 75%.
    • AT&T announced the first fiber-optic manufacturing facility in the U.S.
    • Honda and LG announced a $4.4 billion solar manufacturing plant in Ohio.
    • And Micron announced a $15 billion investment to build a new memory-chip manufacturing facility in Idaho.

President Biden’s Inflation Reduction Act President Biden will lower costs and build on this historic job growth.

  • Experts estimate that the Inflation Reduction Act will create upwards of 9 million good jobs over the next decade, an average of nearly 1 million jobs every single year.
  • These investments will create jobs across various sectors in the next decade, including an estimated:
    • 5 million jobs from clean energy investments to meet our climate goals and lower energy costs.
    • 900,000 jobs from clean manufacturing projects that will help to bring supply chains back to the U.S.
    • 900,000 jobs from clean building projects to make homes stronger, healthier, and more energy efficient.
    • 600,000 jobs from natural infrastructure projects that will strengthen our resilience to climate disasters.
    • 400,000 jobs from clean transportation projects that will lower transit costs for families.
    • 150,000 jobs from environmental justice initiatives to address the disproportionate impact of climate change, particularly in low-income communities and communities of color.

MAGA Republicans, on the other hand, are more concerned with pushing their extremist agenda and protecting tax breaks for big corporations than advocating for working families.

  • From advocating for extreme abortion restrictions that would criminalize patients and doctors to calling for cuts to Social Security and Medicare, MAGA Republicans continue to demonstrate how out of touch they are with the American people.
  • They are pushing policies far outside of the mainstream at the expense of working to lower costs.
  • Working families need economic solutions – not extremist policies that do nothing to address the priorities of most Americans.

We’re seeing the positive impact of President Biden’s economic agenda every day: prices are coming down, wages are going up, and Americans are getting to work as manufacturing jobs come back to the U.S.

It’s clear who can be trusted to deliver strong economic policies for working families – and who can’t.