(CNSNews.com) - House Speaker Nancy Pelosi (D.-Calif.) put out a statement expressing her satisfaction with the October jobs report released by the Bureau of Labor Statistics and arguing that Republicans are not happy with good economic news.
According to the data released by BLS today, the number of people in the labor force—meaning they either have a job or are actively seeking one dropped from 164,689,000 in September to 164,667,000 in November. The labor force participation rate similarly dropped from 62.3 percent to 62.2 percent.
The number of people actually employed dropped from 158,936,000 in September to 158,608,000 in October.
The unemployment rate ticked up from 3.5 percent in September to 3.7 percent in October.
“The October jobs numbers are the latest evidence that, under President Biden and the Democratic Congress, America continues to create jobs at a strong, steady, sustainable pace,” Pelosi said.
“While Republicans want to send costs soaring and make working families pay the price, Democrats will always put People Over Politics: lower costs, better-paying jobs and safer communities for all,” she said.
Here is the full text of Pelosi’s statement:
"San Francisco – Speaker Nancy Pelosi issued the following statement on the October jobs report, which showed that the U.S. created 261,000 jobs last month:
“'The October jobs numbers are the latest evidence that, under President Biden and the Democratic Congress, America continues to create jobs at a strong, steady, sustainable pace. Now, with more than 10 million new jobs — including a record 700,000 new manufacturing jobs — Americans continue to get back to work and our economy continues to grow.
“'This progress has been made possible by Democrats’ bold legislative action: weathering the pandemic with our Rescue Plan, rebuilding our nation with our Infrastructure Law, reinvigorating domestic manufacturing with our CHIPS and Science Law, and investing in our clean energy future with our Inflation Reduction Act. Shamefully, Republicans overwhelmingly voted against these laws – even rooting for a recession.
“'Democrats have enacted landmark laws to lower the cost of living: lowering prescription drug costs and cutting health care premiums, while gas prices have come down. House Democrats have gone further: passing the Consumer Fuel Price Gouging Prevention Act to take on corporate greed, the Lower Food & Fuel Costs Act to bring down prices at the pump and the supermarket, and historic investments in paid leave, Child Tax Credit, child care, home health care, universal pre-K and affordable housing. Making them law will be a top priority for a Democratic Majority the next Congress. In stark contrast, MAGA Republicans’ extreme agenda would make inflation much worse: plotting to repeal lower prescription drug costs, give tax breaks to the ultra-rich and slash Social Security and Medicare.
“'While Republicans want to send costs soaring and make working families pay the price, Democrats will always put People Over Politics: lower costs, better-paying jobs and safer communities for all.”