- October 07, 2016 -
September Jobs Report Statement
"Today’s weak September jobs report confirmed what people feel -- that the Clinton-Obama economy is failing them. Americans desperately need more jobs and new economic policies, not the same-old, same-old offered by the Clinton campaign.
"The economy added only 156,000 jobs in September and there was a downward revision to previous months. The unemployment rate went up to 5%. The participation rate stands at only 62.9%, near a historic low. The overall unemployment rate is stuck at 9.7%. That means that millions of Americans are being left out of the recovery, hitting the young and minority workers particularly hard.
"The report shows a troubling long-term trend: after seven hard years of the Clinton-Obama administration their policies still can't produce better-paying jobs and upward mobility. Average wages rose only six cents in September and are barely keeping up with inflation. Almost a third of the jobs added in September – 51,000 jobs - are low-paying service jobs in sectors such as retail and restaurants that won’t support a family, pay for a home or put children through college.
"We see many jobs in services, and too few better-paying jobs making the goods Americans use and can export to the rest of world. We actually lost 13,000 manufacturing jobs in September.
The 'recovery' is seven years of policy failure on virtually every significant metric -- growth, income, trade and jobs. Four more years of Clinton-Obama policies would mean four more years of mediocrity or worse for American workers. Americans deserve change and are demanding it. Lower taxes and regulatory reform under the leadership of President Trump will bring back earnings trapped abroad and will create the jobs that families deserve." - David Malpass, Senior Economic Advisor