Scott Statement on August Jobs Report
WASHINGTON – Ranking Member Bobby Scott (VA-03) issued the following statement after the Bureau of Labor Statistics announced that the economy added 151,000 jobs during the month of August:
“Today’s job report shows that 151,000 jobs were added to the economy and unemployment stands at 4.9 percent. This report represents the 77th consecutive month of private sector job growth, continuing the longest streak on record previously set in April 2000 at 51 months. Today also marks the 42nd anniversary of the Employee Retirement Income Security Act (ERISA). ERISA set a number of standards for pension and health benefit plans in private industry, ensuring workers receive the protections they deserve. And although we see continued economic growth with today’s jobs report, we know that too many Americans continue to struggle to adequately save for their retirement. The Department of Labor recently completed a multi-year effort to modernize and strengthen ERISA for those saving and planning for retirement. This was an important step and now Congress should build on those efforts to ensure that workers – many who have worked their entire lives – can live in dignity in retirement. As we observe the anniversary of ERISA, we should renew our commitment to protecting the retirement benefits and savings of American workers.”
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