PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

SBE Council’s Kerrigan Responds to May Jobs Report

By at 1 June, 2018, 11:06 am

NEWS

FOR IMMEDIATE RELEASE

Washington, D.C. – Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan issued the following statement on the latest jobs numbers by the Department of Labor (DOL), which reported that 223,000 new jobs were created in the month of May and the unemployment rate dropped to 3.8 percent:

“Job growth is strong, small business confidence remains solid and wages are increasing.  Policies that are lifting government burdens off small business – such as tax relief and regulatory reforms that strengthen U.S. competitiveness – continue to provide a big boost and very favorable environment for entrepreneurs and small businesses.  The work completed to date by President Trump and Congress has created this positive environment and they must continue on a pro-growth, pro-entrepreneur policy path to enable sustainable economic growth and investment activity.

“We look forward to our continued work with President Trump’s team and our small business friends in Congress to advance additional reforms that improve the policy ecosystem for small business growth and higher levels of entrepreneurship. This includes action on policies that provide entrepreneurs and their employees more affordable health coverage options, access to global markets and certainty on trade, access to capital, and access to quality broadband in key areas of the country that need this tool to boost opportunity and economic development.”

See SBE Council’s 2018 Policy Agenda for Entrepreneurs and Small Business here.

According to the DOL report, employment gains were strong across the board, including in manufacturing (+18,000), construction (+25,000), retail (+31,100), and other services (+171,000). Manufacturing jobs have increased 334,000 since the election.  The labor force participation rate ticked lower from 62.8 percent to 62.7 percent. Average hourly earnings were up by 2.7 percent over the last 12 months, and wage gains for non-managerial workers were up by 2.8 percent, the largest 12-month increase since July 2009.

CONTACT:

Karen Kerrigan, kkerrigan@sbecouncil.org,

703-242-5840

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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