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Democratic News

From Chairman
Don Beyer
U.S. Congressman (D-VA)
November 22, 2021
JEC Chairman Beyer Statement on Federal Reserve Nominations
“Under Chair Powell and Governor Brainard, the Fed’s decisive action was critical to limiting the economic fallout and jumpstarting the U.S. economic recovery. I applaud President Biden’s announcement to nominate Chair Powell for a second term and to...
November 19, 2021
JEC Chairman Beyer on House Passage of the Build Back Better Act
"Today’s passage of the Build Back Better Act in the House is a landmark moment for this country. These fully paid-for investments will deliver economy-wide gains for decades to come, advancing economic growth that is stronger, more stable and more b...
November 19, 2021
Rep. Newman and JEC Chairman Beyer Release Third-Quarter Worker’s Economy R...
Today, U.S. Representative Marie Newman (D-IL-03) and Joint Economic Committee Chairman (JEC) Representative Don Beyer (D-VA-08) released this year’s Third Quarter Worker’s Economy Report, a shortcut guide designed to provide constituents with an und...
November 17, 2021
JEC Held Hearing to Explore Digital Assets, Role of Government
Today, the Joint Economic Committee (JEC) held a hearing entitled “Demystifying Crypto: Digital Assets and the Role of Government” to explore the regulatory, policy and economic concerns posed by digital assets for the United States and the global ma...

Republican News

From Ranking Member
Mike Lee
U.S. Senator (R-UT)
November 15, 2021
How Inflation is Weakening the Recovery and Harming Low-Income Americans th...
Inflation has become a defining characteristic of the COVID-19 economic recovery. As the labor market recovery loses steam and economic growth slows, two common inflation indicators—the Core Consumer Price Index and the Core Personal Consumption Expe...
November 5, 2021
Ranking Member Mike Lee on October Jobs Report
WASHINGTON—Sen. Mike Lee (R-UT), Ranking Member of the Joint Economic Committee, made the following statement on this morning’s jobs report issued by the U.S. Department of Labor:
November 3, 2021
Examining the Relationship Between Higher Education and Family Formation
As educational attainment continues rising, the presumed price of admission to the middle class increasingly seems to require a college degree. In the United States, more young adults than ever attend college, and more young adults than ever rely on ...
November 2, 2021
Child Tax Credits Should Promote Work, Not Undermine It
President Biden and Congressional Democrats’ plan to increase taxes and expand federal spending includes a list of changes that would affect most sectors of the economy and discourage a return to work for many of America’s most needy families.

State Unemployment Data

Latest Economic Data

Total nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing. Employment in public education declined over the month.
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter.
In the week ending November 6, initial weekly unemployment insurance claims declined by 4,000 to 267,000, a new pandemic low. Initial claims remain 68% lower than when President Biden took office and 96% lower than during the height of the pandemic. The 4-week moving average was 278,000 a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since March 2020.