WASHINGTON – U.S. Secretary of Labor Marty Walsh issued the following statement on the February 2023 Employment Situation Report:
“Today, the Bureau of Labor Statistics reported that the American economy added 311,000 jobs in the month of February. With 12.4 million jobs added since President Biden took office, and an average of 351,000 jobs added per month over the past three months, this growth continues the steady, stable progress that is bringing opportunities to more workers and security to more families across the country. Growth was especially strong in the leisure and hospitality sector, as restaurants and bars added jobs, in retail trade, and in healthcare, where hospitals and nursing homes added significant numbers of jobs. The unemployment rate remained near its historic low, ticking up to 3.6 percent as more people continued to enter labor markets looking for work.
“Tomorrow marks the two-year anniversary of the President’s signing of the American Rescue Plan. At that time, the unemployment rate was 6.2 percent, millions of workers were still unable to return to work, and businesses across the country were struggling to reopen. Many experts were predicting that the unemployment rate would not return to four percent until 2026. Instead, under President Biden’s plan, the unemployment rate has now been under four percent for a full year, and in February, for the first time, labor force participation for adults between the ages of 25-54 is higher than it was before the pandemic. This remarkable recovery is a testament to the effectiveness of the President’s worker-centered policies and to the resilience and dedication of America’s workers.
“At the same time, we have the opportunity to keep helping more people return to work by ensuring there are good jobs for all workers and by addressing family care needs. The President’s budget proposal does just that, by investing in childcare solutions for millions of families and strengthening protections, supports, and training opportunities for workers in every community of our country.”