Joint Economic Committee Chairman Erik Paulsen, R-Minn., released the following statement regarding the Bureau of Labor Statistics February 2018 employment report:
“This employment report is great news and demonstrates how tax cuts and regulatory reform have created real momentum in our economy. In the first two months of this year, well over half a million jobs have been created—550,000—and the gains from the last month alone cover a broad base, including 61,000 new jobs in construction, 50,000 in retail, 50,000 in professional services, and 31,000 in manufacturing. Strong economic policy is creating new opportunities for Americans eager to return to the workforce.
“Americans called for relief from the shackles of government regulation and taxation, and Congress listened. The Tax Cuts and Jobs Act and regulatory reform are already paying dividends to the American worker."
Note: The U.S. economy added 287,000 private and 26,000 government nonfarm payroll jobs in February. The unemployment rate remained at 4.1 percent due to more Americans re-entering the labor force, witnessed by the increase in the labor force participation rate.
For more information on Chairman Paulsen’s work with the Joint Economic Committee, go to jec.senate.gov.