WASHINGTON– Today, Rep. Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee, issued the following statement after the Labor Department released its July jobs report:
“Today’s jobs report flashes a bright red warning sign for our economy. Unemployment is up, job growth has slowed across nearly every sector, and revised figures show the past three months were the weakest period for jobs since COVID. At the same time, new inflation data shows prices are still climbing, leaving working families with less money in their pocket each month.
Instead of addressing the cost-of-living crisis, President Trump is doubling down on chaos. He is pushing more reckless tariffs on key trading partners that will raise prices even more for small businesses and consumers. While the President claims his economic policy is focused on reviving manufacturing, the reality tells a different story—America lost 26,000 manufacturing jobs in May and June alone. These tariffs are not working, and the Administration needs to reassess rather than keep digging the hole deeper.
At the same time, Republicans’ ‘Big Ugly Bill’ will cut support that working families rely on while handing more tax breaks to billionaires. Republicans are not building an economy where every day Americans can succeed. They are focused on supporting the wealthy, while everyone else gets left behind.”
