The first jobs report of 2024 from the Bureau of Labor Statistics shows the economy added 353,000 jobs and unemployment remained at 3.7%. In response, Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun released the following statement:
“Today’s stellar jobs report marks two straight years of unemployment below 4% and 18 months of cooling inflation, an achievement many economists did not think was possible. The data is very clear that we never had to sacrifice jobs for lower prices.
“High interest rates will only slow our clean energy transition and put families in more debt. Chair Powell must change his tune and cut rates in March.”
Email press@groundworkcollaborative.org to speak to Bilal Baydoun about today’s jobs report and what it means for interest rates in 2024.