Wage growth accelerated and the unemployment rate fell to 4.4 percent.

WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the Bureau of Labor Statistics released its latest jobs report:

“The Working Families Tax Cuts will add fuel to the already strong economy we are seeing under President Trump’s America First economic policies. The private sector continues to drive job growth. Wages are rising faster than prices, so people have more real income in their pockets than under Joe Biden. The economy is growing faster than the so-called Washington experts predicted, and this spring, families can expect bigger paychecks and the largest tax refunds in history that will further help Americans recover from the Democrats’ inflation crisis.” 

Key Facts

•  Real Income Is Up: Real wages have increased 1.2 percent since January 2025 compared to a 3.0 percent decline during Joe Biden’s presidency. 
• Private Sector Creates Jobs, Not Government: Under President Trump, the private sector is growing and creating jobs while the government is shrinking.
• GDP Growing Faster than Expected: GDP grew at an annualized rate of 4.3 percent for the third quarter of 2025, more than double the Congressional Budget Office’s projection of 1.9 percent annualized rate.