Congressman Jeb Hensarling

Representing the 5th District of Texas

Hensarling Releases Statement on August Jobs Report

Sep 2, 2016
Press Release

WASHINGTON – U.S. Congressman Jeb Hensarling, Chairman of the House Financial Services Committee, issued the following statement after the Department of Labor released the August jobs report:

“This latest jobs report demonstrates that Obamanomics is failing our economy as Americans continue to struggle in the weakest and most tepid recovery in our nation’s history.  Working Americans deserve better.  Government has grown too big, too intrusive, and too expensive to allow the private sector to create good-paying jobs at a rapid pace. The Obama Administration’s endless bureaucratic red tape discourages job creation by punishing the job creator.   One of the main culprits is the Dodd-Frank Act, weighing in at 2,300 pages and adding 400 new regulatory burdens on our economy.

"Under the Obama economic strategy of which Dodd-Frank is a central pillar, Americans are suffering through the weakest performing recovery of our lifetimes. The share of able-bodied Americans in the labor force has hovered at the lowest level in nearly 40 years. Small business startups are at the lowest level in a generation.

“But, there is a better way.  House Republicans are working on a bold agenda that will grow our economy, reduce poverty and increase paychecks, and I am proud to be a part of that effort in Congress. The House Financial Services Committee, which I Chair, has an alternative to the regulatory burdens of Dodd-Frank called the Financial CHOICE Act.  It is a plan that will grow the economy for all Americans and eliminate many of the bureaucratic barriers to job creation in this country.  Americans deserve the growing economy they’ve been looking for.”