Economy & Job Creation

As of January 2025, the nationwide unemployment rate was 4%, and it increased to 4.1% in February. While these figures indicate nearly full employment overall, they do not necessarily reflect whether individuals are in jobs they desire or receiving the income and benefits they seek. Additionally, these statistics do not account for the rising consumer pessimism regarding the economy, as reported by the Conference Board, which is being driven by growing economic uncertainty. The Trump administration's inconsistent approach to tariffs, coupled with spending cuts resulting from the termination of various government agency employees, is likely to exacerbate this uncertainty and exert a negative impact on the economy.

Domestic and international markets favor consistency and stability over chaos, enabling businesses to formulate long-term plans. The president's inability to maintain a consistent approach poses a risk of triggering a recession, leading to increased layoffs and jobless claims at a time when government stimulus for the economy is most needed. The growing economic uncertainty only increases the risk of this recession.

Ensuring that training and education programs are fully funded will equip individuals with the skills necessary to navigate this economic uncertainty and pursue their desired careers. Additionally, since small businesses are the backbone of our economy, offering incentives to help business owners expand their operations and providing support to entrepreneurs starting new ventures will create greater opportunities for all Americans, and strengthen our economy during uncertain times.