The Department of Labor issued its February jobs statement, which showed that the economy created just 20,000 jobs, a very weak number compared with the average growth over the last three months of 186,000.
The Bureau of Labor Statistics (BLS) reported the economy added just 20,000 jobs in February, a bounce back from the extraordinarily rapid growth reported in January, which was revised up to 311,000.
Construction employment fell by 31,000 in February, providing evidence of weakening in both residential and non-residential construction.
Retail lost 6,100 jobs in February after adding 13,700 in January. Employment in the sector is virtually unchanged over the last year.
Manufacturing employment rose by just 4,000, the smallest increase since a drop of 3,000 in July of 2017.
“February’s abysmal jobs numbers are a stark warning from an economy being hollowed out by the GOP’s devastating special interest agenda,” said Speaker Nancy Pelosi.
“Years of Republican giveaways to big corporations and the wealthiest few have jeopardized the financial security of working families. Jobs and household wealth are faltering,” said Pelosi. “Despite the President’s promises, our nation faces a historic trade deficit. And the future of America’s middle class is burdened by a tax scam that has driven up record budget deficits in order to enrich Big Pharma, big banks, big corporations and the wealthiest 1 percent.”
“As Republicans continue to push their failed policies, House Democrats are working For The People to lower health care costs and the price of prescription drugs, raise wages by rebuilding America with green, modern and job-creating infrastructure and restore integrity to Washington,” said Pelosi.
Trump is reviving his border wall fight in the new budget delivered to Capitol Hill, which will seek $8.6 billion for his border project, impose spending cuts to domestic programs and set the stage for another fiscal battle.
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