PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Kerrigan on Jobs Report: Modest Gains Underscore Need for Faster Progress on Pro-Growth Policies

By at 2 June, 2017, 10:34 am

NEWS

Washington, D.C. – In a statement about today’s jobs report, Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan said May’s disappointing numbers underscore the need for Congress and the Trump Administration to pick up the pace in advancing pro-growth policies. The Department of Labor reported the economy added 138,000 jobs in May and the unemployment rate was 4.3 percent. Job growth for March and April was also revised down (66,000 less than previously reported.)

“The significant boost in small business confidence following the election and carrying into 2017 will translate into increased hiring and investment once entrepreneurs see real progress on tax, health care and regulatory reform. Outrageous health coverage costs are weighing down small businesses, and the stall out on Capitol Hill regarding Obamacare reform is not a positive signal for small businesses. Yesterday, there were reports from the Senate that a health care reform bill may not even see the light of day in 2017. This is bad news and not acceptable to small business owners and their employees,” said Kerrigan.

See SBE Council Chief Economist Ray Keating’s analysis: 5 Points on May’s Ugly Jobs Data

Kerrigan added:

“Our elected leaders in Washington need to focus like laser on advancing bold and foundational reforms that will boost our economy and strengthen our small businesses. That means faster movement on tax reform and fixing Obamacare’s costly ills. We are pleased to see that regulatory reform is moving at a faster clip, as a key Senate committee following House action recently passed a series of bills that will give entrepreneurs some relief and certainty when it comes to rules and red tape.  But small business owners will feel less confident with each passing day that progress is not made on two of their most pressing issues – crushing health care costs and a burdensome and unfair tax system. Today’s jobs report is a reminder that Congress and the Administration have a lot of work to do to fulfill their promises of robust job creation and strong economic growth.”

Contact: Karen Kerrigan, 703-242-5840 or kkerrigan@sbecouncil.org

Raymond J. Keating, Chief Economist 631-909-1122 or rkeating@sbecouncil.org

SBE Council is a nonpartisan, nonprofit advocacy, research and education organization that works to protect small business and promote entrepreneurship. For nearly 25 years SBE Council has worked to successfully implement a range of policy and private sector initiatives to strengthen the ecosystem for startups and small business growth. To learn more, visit SBE Council’s website: www.sbecouncil.org. Follow on Twitter: @SBECouncil

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