Reed: Trump’s Policies Sure Seem to be Fueling Higher Prices & Shedding Jobs

WASHINGTON, DC - Today, the Bureau of Labor Statistics (BLS) reported that the U.S. lost 92,000 jobs last month, marking the second time in the last three months that the nation's economy has shed jobs.

Economic data from February is in stark contrast to the anticipated gain of 65,000 jobs that analysts projected. BLS also revised December's job data to reflect an additional loss of 17,000 jobs. Today's report is more proof that employers have no confidence in President Trump's chaotic management of the economy.

The report comes as President Trump has launched a war with Iran that has sent gasoline prices soaring for consumers, with the average gallon of gas jumping by 27 cents in less than a week.

U.S. Senator Jack Reed (D-RI) today issued the following statement on this failing report card for President Trump's economic policies:

"President Trump has repeatedly made it clear to working Americans that he doesn't care about prices and affordability. The president's anti-worker, anti-Main Street agenda is dragging America backwards, causing families to pay more, and providing less opportunities for them to get ahead.

"Trump has decided to put even more pain on Americans by starting a war with Iran, despite knowing his war of choice would send gas prices skyrocketing. Furthermore, he is doubling down on the bulk of his so-called 'emergency' tariff taxes - which the Supreme Court ruled were unlawful - and replacing them with new levies that further strain household budgets.

"My Republican colleagues in Congress need to join Democrats in sticking up for average Americans who are suffering in Trump's economy. Nobody wants to see these dismal job numbers or feel impending doom when it's time to fill up your gas tank. We need immediate action to reverse this alarming trend of poor job results and rising prices."

Today's report showed that unemployment has now increased to 4.4% as most industries lost jobs, including deep cuts to health care, construction, and manufacturing jobs. Despite President Trump's claims that his higher tariff prices would create a "boom" for domestic manufacturing, the February jobs report noted a 12,000 cut to manufacturing jobs alone. This data combines with prior reports for a total loss of 120,000 manufacturing jobs since Trump took office.

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