Washington, D.C.—Today, Senator Martin Heinrich (D-NM), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 150,000 in October and the unemployment rate rose slightly to 3.9%. The unemployment rate was 5.8% for Black workers, 4.8% for Hispanic workers, 3.5% for white workers, 3.1% for Asian workers, and 6.7% (not seasonally adjusted) for American Indian and Alaska Native workers.
“Job growth remains strong, and wages are still on the rise – the work that the Biden administration and Democrats in Congress are doing to bolster our economy is paying off.
“That work continues. I was thrilled to hear President Biden’s announcement this week of $5 billion in upcoming investments to create and expand economic opportunity in rural America. That funding will mean more jobs in rural communities across the country so that people don’t have to leave their hometowns in order to support their families. It will mean lower energy and health care costs and better infrastructure. No community or family should be left behind, and I’ll keep working to make sure ours in New Mexico have access to these kinds of opportunities for economic growth and development.”
About Chairman Martin Heinrich
U.S. Senator Martin Heinrich has served the people of New Mexico in the United States Senate since 2012. In addition to his role as Chairman of the U.S. Congress Joint Economic Committee, Heinrich also serves as Chairman of the Subcommittee on Agriculture, Rural Development, and Food and Drug Administration on the Senate Appropriations Committee, and as a member of the Senate Energy and Natural Resources Committee and the Senate Select Committee on Intelligence. Prior to his election to the U.S. Senate, Heinrich served two terms in the U.S. House of Representatives, four years as an Albuquerque City Councilor, as New Mexico’s Natural Resources Trustee, and in AmeriCorps with the U.S. Fish and Wildlife Service.
About the U.S. Congress Joint Economic Committee
The U.S. Congress Joint Economic Committee is Congress’s bicameral economic think tank. It was created when Congress passed the Employment Act of 1946. Under this Act, Congress established two advisory panels: the President's Council of Economic Advisers (CEA) and the JEC. Their primary tasks are to review economic conditions and to recommend improvements in economic policy. Chairmanship of the JEC alternates between the Senate and House every Congress.