Washington D.C. – Congressman Eliot L. Engel, a leading member of the House Energy and Commerce Committee, issued the following statement after the release of the Department of Labor’s report on the December Jobs market. The economy added 156,000 new jobs in December, while the unemployment rate ticked slightly higher, from 4.6% to 4.7%. Wages showed some of their strongest gains since before the recession, rising 2.9% on the year.
“The verdict is in: President Obama is among the most successful job-creating Presidents of the last 100 years. His second term ends with the 75th consecutive month of private sector job creation, the longest such streak in recorded American history. Even accounting for the catastrophic job losses from the recession President Obama inherited from President Bush, during the Obama years the economy created a net of more than 11 million new jobs. Meanwhile, wages are finally growing again: wages grew by 2.9% last year, while total household income rose 5.2%. Household income growth has not been this strong since before the Great Recession.
“President-elect Trump will inherit a broadly healthy economy and an increasingly strong jobs market, a far cry from the looming economic depression that President Obama inherited. The challenges that remain are deep, structural ones. Income inequality, modern pressures on historical sources of middle class jobs, and flagging public investment means there is still much that can be done here in Washington to help the American worker. But if we can commit to a strong middle class and a fair shake for working people, we will be moving forward from a position of economic strength.”
Please note this press release was originally published on January 6, 2017 by Congressman Engel’s House of Representative’s office and posted to this website no sooner than 72 hours after initial publication.