JULY JOBS REPORT: It’s another good news, bad news scenario on America's 'Job Day'

The unemployment situation in July recovered all jobs lost during COVID – over half a million and the employment rate is a lower than expected 3.5% the Department of Labor reports. These signs of economic resilience were touted by Pres. Joe Biden form te WHIte house balcony as strong, yet the historic over 9% inflation rate can’t be denied. Pres. Biden’s answer to this economic pretzel is the Inflation Reduction Act awaiting passage. Many Americans need a pay raise to sustainable income levels. Virginia’s Bobby Scott introduced the Raise the Wage Act in January of 2021, currently in the first stage of the legislative process, which proposed increases The federal minimum wage for regular employees over a 5-year period annually, for tipped employees, and for newly hired employees who are less than 20 years old. The bill sets forth a schedule of annual increases in the federal minimum wage for individuals with disabilities.

A report release by OxFam America indicates that over 30% of Americans are low wage earners, making less than $15/our. In the nation’s capitol the minimum wage is $15.20 cents, almost twice as much as the federal at 7.25. The Consumer Price Index number swill be released in the coming week to give a bigger picture of wat these numbers mean.

One of the biggest challenges in America's economic recovery is that Inflation is rising and wages are not. Every day items are simply less affordable tat tey were a year ago. In today's press briefing The Slice News asked Press Sec. Karine Jean Pierre if the minimum wage would increase under the Biden Administration. In her rep she talked about the incremental increases that were made through an Executive Order Biden signed.

Pres. Joe Biden included the long-time request to increase the minimum wage to $15/hour in the American Rescue Plan, but Republicans gutted it. When that didn’t work, he signed an Executive order requiring federal workers to be paid at least $15.00/hour.