Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its March jobs report:
“Today’s jobs report is the latest in a string of strong hiring numbers to start the year as the economy added 431,000 in March. Over the past three months, we’ve created 1.7 million jobs, bringing the total to 7.9 million since President Biden took office. People are getting back to work, the unemployment rate has dropped to 3.6%, and we’ve regained 93 percent of the jobs lost due to the pandemic. Working families also continue to see larger paychecks as wage growth has risen 5.6% over the past 12 months. These numbers are no accident. They are the result of policies like the American Rescue Plan and other measures advanced by the Biden administration and Congressional Democrats.
“This report is overwhelmingly positive, but challenges remain ahead. Supply chains need to be strengthened, costs need to be lowered, and creating a competitive environment for small firms must be prioritized. Democrats are advancing a number of bills that address these core issues. We must continue to push ahead, and I look forward to working with my colleagues to deliver on these solutions.”