Groundwork’s Bilal Baydoun Ahead of November Jobs Report: “Continued progress requires continued investment”

Groundwork’s Bilal Baydoun Ahead of November Jobs Report: “Continued progress requires continued investment”

Ahead of tomorrow’s release of the November Jobs Report from the Bureau of Labor Statistics, Groundwork’s Director of Policy and Research Bilal Baydoun released the following statement:

“Tomorrow’s jobs report could mark the 22nd straight month that the unemployment rate sits below 4%. This is a tremendous achievement for an economy that just three years ago was in the throes of a global pandemic and recession. This historic labor market continues to prove that prioritizing full employment through strong public investment was the winning formula for this recovery.

“But continued progress requires continued investment. Looking ahead to next year, the best way to further empower workers is through investments in housing, child care, education, and other economic necessities that too many families still struggle to afford and to avoid the dangerous cuts to domestic spending House Republicans are pushing for. Only by funding these long-overdue priorities can we build a stronger, more inclusive economy for all of us.”

Email press@groundworkcollaborative.org to speak with Bilal Baydoun about the November jobs report and what it means for our economy. 

State of the Labor Market:

• Black unemployment rate: Over the course of the labor market recovery, the Black unemployment rate reached historic lows, including an all-time low of 4.7% in April. In recent months, however, Black unemployment has been ticking up and remains much higher than the white unemployment rate. It is important to see if this trend continues, since an increase in the Black unemployment rate is often a key sign of a slowing labor market.
• Labor action: More than 450,000 workers went on strike this year to demand better wages and working conditions. A sustained surge in labor activism has the potential to raise wages and ensure better access to health care and time off.
• Government employment: While employment in the private sector recovered swiftly from the Covid recession, state and local public sector jobs lagged well behind and were still slightly below pre-pandemic levels last month. This sector is an important pathway to economic security, especially for Black families.
• Wage growth: Hourly wage growth has outpaced inflation relative to this time one year ago. While this is welcome news for workers and families feeling the squeeze of higher prices, wage growth has slowed in recent months. Continued wage growth is critical, especially for lower-wage workers who have seen very few increases in the last five decades.