Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its December jobs report:
“The December jobs report marks yet another big miss on employment numbers and shows that our recovery is not on an acceptable path. This report serves as another stark warning sign about the state of the American economy. As December’s spread of COVID-19 intensified and Republicans blocked efforts to enact more relief, 140,000 workers lost their jobs and our unemployment rate stalled at 6.7%. This is not the V-shaped recovery the Trump administration promised.
“As the pandemic continues to surge to record levels, the threat to our economy is becoming more dire. Last month, Congress took the critical step of passing $900 billion in emergency relief, including over $300 billion for small businesses. But it’s clear the American people need more support, and we can’t wait idly as the pandemic closes even more businesses and destroys more jobs. Small firms have borne the economic brunt of this crisis, and this report is more evidence of that. The pandemic has hit the small business dominated hospitality and leisure industry particularly hard. Jobs in the sector are down 23.3% from their February level. The second round of Paycheck Protection Program loans authorized by Congress will help these small firms, but more must be done. In the latest relief package, Congress took steps to target funds to the smallest of small businesses and those owned by people of color. We need more efforts like this to ensure equitable recovery for all small firms.
“As President Trump prepares to leave office, he will leave behind the worst jobs legacy of a president in my lifetime. The Biden administration will face the tall task of repairing the immense damage done to the American economy and small businesses. I’m confident that President Biden will build the American economy back better by working with the Democratic House and Senate to provide more relief to small businesses and the American people”