Statement by Acting Secretary of Labor Su on October jobs report

WASHINGTON – The U.S. Acting Secretary of Labor Julie Su issued the following statement on the October 2023 Employment Situation report. 

“Today, the Bureau of Labor Statistics reported that the American economy added 150,000 jobs in October, and the unemployment rate was 3.9 percent, marking 21 straight months of a jobless rate below 4 percent. These numbers reflect an economy that is growing at a healthy and sustainable pace, with an average monthly gain of 204,000 jobs over the past three months.  

“This jobs report is the latest evidence that President Biden’s economic plan is working. A year ago, many thought it would be impossible to maintain historically low levels of unemployment while also bringing inflation down. Defying expectations, the current data show a steady rate of inflation below 4 percent, and the jobless rate has remained below 4 percent for the longest stretch of time in 50 years. In May of 2022, President Biden predicted monthly job creation of 150,000 would be ‘consistent with a low unemployment rate and a healthy economy.’ And that is precisely what this jobs report shows, another sign that we are moving into the next phase of our economic recovery.   

“President Biden is growing the economy from the middle out and the bottom up, not the top down, and leaves no one behind. Since President Biden took office, 14 million jobs have been added – expanding opportunity for working families – and wages have grown 4.1 percent over the year. This is also the seventh month in a row with a record-high employment rate for prime-age women.  

“This report shows strong job gains in the health care and social assistance sectors, and President Biden has made improving job quality for care workers a priority. In April 2023, President Biden issued an Executive Order on Increasing Access to High-Quality Care and Supporting Caregivers, which directed federal agencies to undertake the most comprehensive set of executive actions ever issued to improve care for families while supporting care workers and family caregivers. Just yesterday, the Department of Labor unveiled sample employment agreements, which will put more power in care workers’ hands on their rate of pay and working conditions.  

“Good jobs can change lives, and the Biden-Harris administration’s focus on improving job quality for all workers continues to fuel our economy’s healthy and stable growth.”