Hoyer Statement on July Jobs Report

"Today's job report revealed that only 73,000 jobs were added to the economy last month, with unemployment increasing to 4.2%. Additionally, we saw a revision that 258,000 fewer jobs were added the previous two months than initially thought. The American economy, once the envy of the world in the post-COVID era under President Biden, is facing new uncertainty thanks to Trump and his disastrous policies. 

"In addition to a weak showing from the job market, August kicks off with Trump's decision to raise sweeping tariffs that will dramatically increase costs for American families. Analysis from the Yale Budget Lab estimates that these tariffs will increase food prices by 3.4%, costing an average family an additional $2,200 a year. The average price of a car in America will increase by $5,900. Americans will see similar prices on a variety of other consumer goods. Meanwhile, Americans will continue to see other costs – from their health care premiums to their energy bills – increase as a result of Republicans' Big Ugly Law. While our economy is flashing red warning lights, Republicans chose to tell Americans, ‘You’re On Your Own’ by pulling the rug out from millions while giving tax breaks to the wealthiest.

"Trump claimed he would lower costs. Instead of putting his money where his mouth is, he is putting working Americans' money in the furnace."