Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its May jobs report showing that non-farm payroll employment increased by 390,000:
“Today’s jobs data shows that the American economy continues to beat expectations and build back better under the Biden Administration. With this report, we’ve now added 96% of the jobs lost due to the COVID crisis. Small firms led the way in this job creation, with the small business-dominated leisure and hospitality industry adding a quarter of total payroll gains. Overall, this report shows that businesses are hiring, wages are rising, and more prime age workers are returning to the labor force. Since President Biden took office, our nation has experienced the strongest job creation in modern times as we’ve added 8.7 million jobs. Our rapid recovery is a direct result of policies that Congressional Democrats have advanced to grow the economy and support small businesses.
“Despite the good news contained in today’s jobs report, we must harness this momentum and push our recovery forward. Congress must continue to advance policies that create more jobs and lower costs for working families. House Democrats have already passed legislation to limit price gouging by Big Oil companies and are currently working to lower food costs by investigating anti-competitive practices in the meatpacking industry. Efforts like these will help the American people and small businesses weather the effects of Putin’s price hike as we build a better economy for all.”
