As Labor force participation mirrors 1970s stagnation, long-term unemployment remain higher than pre-pandemic levels
Texas Insider Report: WASHINGTON, D.C. — "Even with dumbed down jobs expectations based on April’s disastrous report, here's another jobs report for May that falls well short of expectations," said Republican Ways & Means Committee Leader Rep. Kevin Brady (R-TX) earlier today, responding to the U.S. Labor Department's release of May’s disappointing jobs report.
"Long-term unemployment is higher than when the pandemic started, and labor force participation mirrors the stagnant 1970s.
"It’s time for President Biden to abandon his attack on American jobs, his tax increases, his anti-growth regulations and his obsession with more emergency spending and endless government checks," said Brady.
"It’s time for President Biden to abandon his attack on American jobs, his tax increases, his anti-growth regulations and his obsession with more emergency spending and endless government checks," said Brady.
The U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment rose by 559,000 in May, falling short of expectations by economic forecasters.
The unemployment rate declined by 0.3% to 5.8%.
The unemployment rate declined by 0.3% to 5.8%.
