Jan 10, 2014 Issues: Economy and Jobs

Washington, DC (January 10, 2013) – Today, U.S. Congressman Steve Pearce issued the following statement in response to today’s release of the December  Jobs Report:

“Today’s news is only the latest evidence of what New Mexican families already know: Washington’s policies are not working,” said Pearce.  “Disappointing employment numbers, hundreds of thousands of people giving up on finding a job, and the lowest labor force participation rate in more than three decades—all while the White House continues to pat itself on the back for a so-called “recovery,” and refuses to change course.  It is time to end Washington’s reckless tax-and-spend policies.  It is time to give American small businesses the freedom and stability they need to put Americans back to work.” 

Today’s report from the Bureau of Labor Statistics shows that the economy added only 74,000 jobs, far fewer than projected, while the labor force participation rate fell by 347,000, hitting the lowest rate in 36 years.  This means that while the unemployment rate appears to decrease, the reality is that the economy has not improved—people have simply given up looking for work in record numbers.