Chairwoman Velázquez on October Jobs Report
Washington, November 1, 2019
Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its October jobs statement, in which 128,000 jobs were added to the economy:
“Today’s job numbers, combined with the sharp drop in business investment over the past two quarters and stagnating wage growth for American workers, raise significant red flags about the direction our economy is heading.
“President Trump promised big growth and increased investment in the wake of his corporate tax cut. Two years after the fact, we’ve seen considerable gains in corporate profits and not much else. America’s small businesses and consumers continue to feel the pain of this administration’s erratic policies. Policies like the President’s trade war with China are disrupting supply lines and raising the cost of products, hurting both small businesses and their customers.
“Small businesses deserve clarity and stability from the federal government, not policies that favor special interests while deprioritizing the well-being of Main Street America.”