SBA Administrator McMahon Statement on January 2019 Jobs Report

Release Date: 
Friday, February 1, 2019
Release Number: 
19-02
Contact: 
erin.mccracken@sba.gov, (202) 205-7023

WASHINGTON – Today, U.S. Small Business Administration Administrator Linda E. McMahon released the following statement in response to the U.S. Labor Department’s January 2019 Jobs report that the economy added 304,000 jobs last month and the unemployment rate at 4.0 percent:

“Today’s extraordinary jobs report is further evidence that the President’s pro-growth policies are working. While employers added a record 304,000 jobs in January, wages and salaries rose by more than 3% over the past year and U.S. industrial production saw the biggest increase in manufacturing in ten months. Surveys show that businesses plan to benefit from the President’s tax cut plan as well as deregulation efforts, and a significant number of them are optimistic about the long-term economic outlook and are putting in place plans to hire more workers.  Among the nation’s small businesses, per NFIB, hiring continued at record pace in January while employee compensation trended higher. All of this is good news for the nation’s small businesses that continue to contribute significantly to the continued forward momentum of the economy”.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.