[Congressional Record Volume 164, Number 168 (Wednesday, October 10, 2018)]
[Senate]
[Page S6736]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              THE ECONOMY

  Mr. McCONNELL. Mr. President, one final matter. While the Senate was 
focused on Justice Kavanaugh's confirmation last Friday, our economy 
reached a major milestone. According to the latest Department of Labor 
report, unemployment in the United States of America has now fallen to 
3.7 percent. That is the lowest unemployment rate since 1969. It is now 
3.7 percent--the lowest unemployment rate since 1969. The share of 
Americans who are seeking work but cannot find it is as low as it has 
been in just shy of 50 years.
  There was other good news as well. Unlike what happened too often in 
the previous decade, this drop in unemployment did not come from 
discouraged workers giving up their search altogether; to the contrary, 
150,000 more Americans joined the labor force last month, and the 
unemployment rate still went down. Now, that is an opportunity economy. 
That is exactly what an opportunity economy looks like.
  Day after day, my Republican colleagues and I have come to the floor 
and outlined all the things we are doing to try to help generate 
precisely this kind of economic momentum for the American people. This 
unified Republican government has rolled back regulations and cut 
redtape at a pace that hasn't been seen for years. We have handed 
American families and job creators the most significant Tax Code 
overhaul in 30 years, lower tax rates, a bigger child tax credit, more 
help with small businesses, and better incentives to invest and create 
jobs right here on American soil. Our actions have been clear, and our 
economy is sending equally clear signals in response: the highest 
consumer confidence we have seen in nearly 18 years, the highest small 
business confidence we have seen in 35 years, and now the lowest 
unemployment rate we have seen in almost half a century.
  I have said it before, and I will say it again: Government itself is 
not creating this prosperity. Republicans know that growth starts with 
workers and entrepreneurs, not with Washington. Government can either 
put the wind in America's faces or at their backs, and there is little 
question which way the wind has been blowing these past 2 years. It 
certainly is not ``Armageddon'' or ``crumbs,'' as the House Democratic 
leader notoriously proclaimed in recent months. It is not a 
``disaster,'' as my friend the Senate Democratic leader has suggested. 
No, it is rising wages, more job opportunities, and new investment, and 
it is reaching kitchen tables in communities large and small all across 
our country. The real winners here are the American people. Republicans 
are just proud that our policies are helping them do what they do best.

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