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SBA Administrator McMahon Statement on January 2019 Jobs Report

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WASHINGTON – Today, U.S. Small Business Administration Administrator Linda E. McMahon released the following statement in response to the U.S. Labor Department’s January 2019 Jobs report that the economy added 304,000 jobs last month and the unemployment rate at 4.0 percent:

“Today’s extraordinary jobs report is further evidence that the President’s pro-growth policies are working.

While employers added a record 304,000 jobs in January, wages and salaries rose by more than 3% over the past year and U.S. industrial production saw the biggest increase in manufacturing in ten months.

Surveys show that businesses plan to benefit from the President’s tax cut plan as well as deregulation efforts, and a significant number of them are optimistic about the long-term economic outlook and are putting in place plans to hire more workers.

Among the nation’s small businesses, per NFIB, hiring continued at record pace in Jan. while employee compensation trended higher.

All of this is good news for the nation’s small businesses that continue to contribute significantly to the continued forward momentum of the economy”.