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 353,000 in January and the unemployment rate remained at 3.7%. The unemployment rate was 5.3% for Black workers, 5.0% for Hispanic workers, 3.4% for white workers, 2.9% for Asian workers, and 6.7% (not seasonally adjusted) for American Indian and Alaska Native workers.
“We started off the year on a strong economic note, reaching 36 consecutive months of job growth – that’s job growth every single month since President Biden took office, for more than 14 million jobs created under his administration. And as this administration invests in ambitious climate action and major infrastructure projects from coast to coast, we’re seeing even more good-paying jobs in sectors that will help power a growing clean economy and unlock economic opportunities in New Mexico and in communities across the country.
“We’re working in Congress to give families more economic breathing room with the Child Tax Credit Expansion in the bipartisan tax bill the House passed this week, and that I hope the Senate will vote on soon. That expansion will help lift nearly half a million kids out of poverty next year and will benefit close to 16 million kids in the first year alone, including 140,000 in New Mexico. This investment will help working families afford the rising costs of childcare and help provide all of our kids with opportunities to succeed – a true bipartisan win, and a win for families in New Mexico and nationwide.”
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.