WASHINGTON – U.S. Assistant Secretary of Labor for Public Affairs Julie McClain Downey issued the following statement on the May 2023 Employment Situation Report:
“Today, the Bureau of Labor Statistics reported that the American economy added 339,000 jobs in the month of May, further confirmation that the economy continues its steady growth, and working families are benefiting from the economic policies of this Administration. The 3.7 percent unemployment rate in May remains within a low, narrow range that has remained consistent for more than a year, the longest period of sub-4 percent unemployment since the 1960s.
“The Biden-Harris administration has implemented an investment agenda that prioritizes expanding the middle class and equitably distributes gains among historically underserved communities. Last month’s record-high labor force participation rate for prime working-age women did not falter. As inflation moderates, 4.3 percent nominal annual wage growth translates to easing financial pressures on families.
“This is a strong and healthy report that squarely places the economy in a resilient period of steady growth, where jobs in 10 large sectors of the economy are above their pre-pandemic levels. Since President Biden took office, the nation has created 13.1 million new jobs, providing opportunities for good jobs with better conditions for workers and job seekers across the country.”