Statement from President Joe Biden on the August Jobs Report

Today’s report showed unemployment fell to 4.2% and another 142,000 jobs were created last month. Thanks to our work to rescue the economy, nearly 16 million new jobs have been created, wages and incomes are rising faster than prices, businesses are investing in America, and millions of entrepreneurs are opening small businesses—acts of hope and confidence in our economy. With inflation back down close to normal levels, it is important to focus on sustaining the historic gains we have made for American workers.

The Vice President and I are fighting to expand opportunity and grow the middle class. We will keep working to support American workers and businesses, and to lower housing and health care costs for hardworking Americans. The last thing we should do is turn back to the failed trickle-down economics pushed by Congressional Republicans, like cutting taxes for the wealthy and large corporations, raising taxes on middle class families by nearly $4,000 per year, or cutting Social Security, Medicare, Medicaid, and the Affordable Care Act.

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