JOBS REPORT: President Biden exceeds expectations in July
Progress Iowa Executive Director Matt Sinovic issued the following statement in response to a new report from the Bureau of Labor Statistics that the country added 528,000 jobs in July and the unemployment rate fell to 3.5%:
“Iowans know we all deserve a fair shot. But too often our families are choosing between groceries and gas, while greedy corporations raise prices and rake in record profits.
“Thankfully, President Biden is working to change that. His administration created more than half a million jobs in July and brought the country’s unemployment rate back to its pre-pandemic level, far exceeding expectations. The national average cost for a gallon of gasoline dropped 65 cents in the last month. And now, Senate Democrats are preparing to pass the Inflation Reduction Act, a historic piece of legislation that will help combat climate change, lower drug prices and reduce the deficit.
“While President Biden does all he can to deliver for working families, Republicans like Senator Chuck Grassley only want to stand in the way. Just this week Sen. Grassley said he would not support the Inflation Reduction Act.
“We need leaders who will support bills that lift up working families, bring down costs and fight corporate greed. Then we can build an economy where people matter more than profits and all of us can thrive.”