WASHINGTON – Acting Secretary of Labor Julie Su issued the following statement on the July 2024 Employment Situation report:
“Today, the Bureau of Labor Statistics reported that the American economy added 114,000 jobs in July, bringing the total to nearly 16 million jobs created under the Biden-Harris administration. While job growth came in below expectations, with an average of 170,000 jobs added per month over the last three months, the American economy is still the envy of the world.
“What the July jobs report indicates is a continued transition to a more stable and sustainable economy that saw growth across multiple industries, including construction, health care, and leisure hospitality. Layoffs are low, the prime-age labor force participation rate rose to 84 percent, the highest level since 2001, the overall labor force participation ticked up to 62.7 percent, and wages continue to grow and are still outpacing inflation, which has decreased to 3 percent. This means more money in the pockets of working people.
“The President and this administration continue to be committed to improving the lives of working people, creating family-sustaining jobs, and growing an economy that works for everyone.”
