FOR IMMEDIATE RELEASE
June 4, 2021
Maddy McDaniel, Communications Director
[email protected] or 914-471-7716
STATEMENT: JOBS REPORT SHOWS AMERICAN RESCUE PLAN HELPING, BUT MORE INVESTMENT NEEDED TO FULLY RECOVER
73% of Voters, Including 67% of Independents and 57% of Republicans, Support the Proposed $2.25 Trillion American Jobs Plan
61% of Voters, Including 64% of Independents, Support the American Families Plan By A +29 Point Margin
WASHINGTON, D.C. — Employers added 559,000 jobs in March, another signal that the public investment in the American Rescue Plan is helping the economic recovery from the pandemic move along, but the millions of jobs yet to be recovered since the start of the pandemic are proof that much more investment is needed to secure an equitable, sustainable recovery.
Invest In America’s spokesperson Maddy McDaniel issued the following statement:
“The American Rescue Plan set the country on the road to recovery after a devastating year for American families and communities.”
“We’ve made great progress, but millions of Americans are still out of a job. The country will not fully recover until we deliver for those out of work by passing the American Jobs and Families Plans — particularly the women, Hispanic, Black, and low-income workers hit hardest by the pandemic.
“The American Jobs and Families Plans will deliver jobs, jobs, and more jobs and fill those jobs by helping working Americans get a leg up and make ends meet, including by supporting families with children with tax breaks and affordable child care options.
“These job-creating investments in infrastructure, care, and clean energy will make America more competitive with China and ensure our nation benefits from good jobs, robust economic growth, and the strong society we need to win in the 21st Century.”
Economists are available to discuss the implications of this week’s jobless claims — reach out to [email protected] to get in touch.
Americans need major public investments to address the problems exacerbated by the pandemic.
- The U.S. labor market is still down more than 8 million jobs from pre-pandemic levels.
- According to the American Society of Civil Engineers (ASCE), the United States faces a $2.59 trillion shortfall in infrastructure investment and $5.9 trillion in infrastructure needs, including rebuilding and repairing roads, bridges, schools, and protecting access to clean water.
- ASCE predicts that failure to address the nation’s crumbling infrastructure could cost the United States $10 trillion in GDP, more than $23 trillion in total output, 3 million jobs, and more than $3,300 in a family’s annual disposable income.
Infrastructure and economic experts agree that a multi-trillion dollar investment in infrastructure will boost the economy by creating millions of jobs and increasing productivity.
- S&P Global projects that the Build Back Better plan’s public infrastructure investments will generate 2.3 million jobs by 2024, inject $5.7 trillion into the economy, and increase per-capita income by $2,400.
- According to the Economic Policy Institute, infrastructure investments are consistently estimated to provide greater economic stimulus than any form of a tax cut.
- Increased public infrastructure investments increase output in both the short and long term, per the International Monetary Fund.