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Democratic News

From Chairman
Don Beyer
U.S. Congressman (D-VA)
August 12, 2022
JEC Chairman Beyer on Passage of the Inflation Reduction Act
Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the House passed the Inflation Reduction Act of 2022.
August 10, 2022
JEC Chairman Beyer on July CPI Data
Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics reported the July Consumer Price Index showed inflation was flat at 0.0% over the last m...
August 5, 2022
JEC Chairman Beyer on July Jobs Report
Today, Congressman Don Beyer (D-VA), 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 528,000 in July and t...

Republican News

From Ranking Member
Mike Lee
U.S. Senator (R-UT)
August 11, 2022
New Research Confirms Importance of Social Capital and Two-Parent Families ...
New research from Opportunity Insights shows the importance of social capital for economic mobility. Specifically, “economic connectedness” is strongly associated with upward income mobility for people with lower income.
August 10, 2022
State Inflation Tracker: July 2022
Americans are facing the highest inflation rates in decades, making it harder for them to afford everyday goods and more expensive to raise their families. Each month coinciding with the Bureau of Labor Statistics’ release of the Consumer Price Index...
August 4, 2022
The HOUSES Act: Addressing the National Housing Shortage by Building on Fed...
The cost of housing is the single biggest expense in the budget of most Americans. Expensive housing can make it harder to start a family, build wealth, and move to places with more economic opportunities. Policies that address the high cost of housi...
July 28, 2022
Ranking Member Lee on Second Quarter GDP Report
WASHINGTON—Ranking Member Mike Lee (R-UT) released the following statement on the Bureau of Economic Analysis GDP estimate for the second quarter of 2022.

State Unemployment Data

Latest Economic Data

Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today.
Real gross domestic product (GDP) decreased at an annual rate of 0.9 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter.
The latest data released by the Department of Labor show that the four-week moving average for unemployment claims fell to the lowest level since 1970. The number of new filings for unemployment insurance benefits was 244,000 for the week ending July 9. The four-week moving average, which smooths week-to-week volatility in the data, is 235,750, down 72% since President Biden took office.