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Statement by U.S. Secretary of Labor Acosta on the July Jobs Report
WASHINGTON, DC – U.S. Secretary of Labor Alexander Acosta issued the following statement regarding the July 2018 Employment Situation report:
"July's report shows 157,000 jobs added, and 59,000 additional jobs revised from the May and June reports showing continued strength. Since the President's election, 3.9 million jobs have been created.
"The unemployment rate edged down to 3.9%. This is only the eighth time that the monthly unemployment rate has fallen below 4.0% since 1970, and three of those months happened under President Trump in 2018. There is a record 156 million people in the labor force. Since President Trump's election, more than one million prime-age people joined or rejoined the labor force. For the second consecutive month, the unemployment rate for Hispanics reached a record low.
"Wages grew over the past 12 months at a rate of 2.7% in July. It is clear that wage growth must increase. Further wage increases will add a great benefit to the American workforce."