WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that 175,000 jobs were added in April. Employment in February and March combined was 22,000 jobs lower than previously reported. The unemployment rate ticked to 3.8% (seasonally adjusted), and the number of unemployed persons ticked to 6.5 million. The labor force participation rate held steady at 62.7% (still below pre-pandemic levels).
For women:
- The unemployment rate for adult women ticked down to 3.5% from 3.6%.
- The unemployment rate fell to 5% for black women from 5.6% but rose to 4.6% from 4.5% for Hispanic women.
- Women’s labor force participation ticked up to 57.7%, still below pre-pandemic levels.
Patrice Onwuka, director of the Center for Economic Opportunity (CEO) at Independent Women’s Forum, issued the following statement:
“Slowing job growth, slowing economic growth, and accelerating prices on everyday goods all make for signs of trouble ahead in the economy. This weak jobs report should give Americans pause about the effectiveness of Bidenomics. Liberal policymakers cannot spend the U.S. economy into sustainable growth and financial security.
“Worse, the avalanche of regulations unleashed this year by the Biden administration is burying small businesses and undercutting entrepreneurship in America. Small firms are the backbone of the U.S. economy and labor force, comprising 99.9% of all businesses and employing 46% of private sector employees. We conclude National Small Business Week with small business optimism falling to its lowest level since 2012. These firms report struggling with inflation, rising labor costs, falling sales, and increased regulations—hallmarks of the Biden economic agenda—leading to obstacles across our entire economy.
“Women in particular are feeling the brunt of an assault on self-employment. Women own over 12 million small businesses in the U.S. Growth in women-owned small businesses is faster than for all businesses overall because women value flexibility and the freedom to work for themselves. Yet, the Biden Administration’s new restrictions on who can be classified as an independent contractor will destroy preferred independent, flexible opportunities. Congress can undo this wrong. A joint Congressional Review Act overturning the Department of Labor’s independent contractor rule has been introduced in the Senate and passed by the House Education and Workforce Committee. Now is the time for our national leaders to protect flexibility, worker freedom, and opportunity.”
Read the stories of women and men who stand to lose flexible opportunities HERE.
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Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended but actually enhance people’s freedom, choices, and opportunities.
Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.