Unemployment Report Shows Healthy Economy, Wage Growth
(Washington, D.C.) – Today the Bureau of Labor Statistics released the employment report for the month of January. It shows the economy continued to grow at the start of 2018, with 200,000 jobs created and an overall unemployment rate that held steady at 4.1 percent. Year-on-year wages increased by 2.9 percent – the largest rise since 2009, according to press reports. The unemployment rate among Hispanics however, rose slightly – to 5 percent, but remains close to an all-time low.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“Today’s unemployment report shows that the economy is continuing to produce significant growth and expanded economic opportunity into 2018. Furthermore, Hispanic workers and others can be thankful that wage growth showed the greatest improvement in many years. Additionally, with the important reforms and tax reductions passed by Congress and signed into law in December, millions of workers and employers are beginning to benefit from a reduction in burdensome and punitive taxes. This reform will benefit the vast majority of American workers, and provide an additional boost to economic growth.”