Press Releases

U.S. Representative Don Beyer, Senior House Democrat on the Joint Economic Committee, today issued the following statement after the U.S. Bureau of Labor Statistics (BLS) released its July 2026 jobs report, which found that the U.S. economy lost 23,000 jobs in July with previous job gains in May and June revised down by a combined 103,000 lower than previously reported. While the unemployment level edged down to 4.1 percent, that decline came as labor force participation fell again to 61.4 percent – its lowest level since February 2021 – with another 264,000 Americans leaving the workforce entirely.

“Today’s jobs report is deeply alarming and offers some of the clearest evidence yet that President Trump’s policies are doing serious damage to the American economy. Job creation has effectively ground to a halt, and businesses simply are not hiring at the pace a healthy economy demands. Wages tell the same troubling story: wage growth slowed to just 3.2 percent, its weakest pace in five years, while inflation has surged to 3.5 percent.

“None of this is happening in a vacuum. President Trump inherited a strong economy and has spent the past 18 months tearing it down. His chaotic tariffs have raised costs for American families and businesses while creating enormous uncertainty that discourages investment and hiring. His cruel and indiscriminate immigration policies are shrinking the labor supply and making it harder for businesses to find the workers they need, and his reckless war in Iran is imposing still more costs on working families, including higher prices at the gas pump.

“We are now seeing the consequences of these disastrous policies, which economists repeatedly warned would raise prices and weaken economic growth. Trump’s economy is not merely slowing down, it is moving backwards. Wages are failing to keep pace with inflation, businesses aren’t hiring, and discouraged Americans are leaving the workforce altogether.

“Yet Republicans in Congress continue to cede their constitutional authority rather than rein in the Trump Administration’s harmful economic policies or confront the President’s shameless corruption. As Americans struggle to afford groceries, electricity, housing, and health care, Donald Trump is abusing the presidency to enrich himself while insulating himself and his family immunity from tax audits. Republicans in Congress are standing by while working families pay the price. It is a complete disgrace and a profound dereliction of our duty to the American people.”