W&M: Rangel Says November Jobs Report Encouraging, But More Needs To Be Done

Press Release

The November jobs report issued today by the Department of Labor showed that the unemployment level has dropped to 10 percent with a net job loss of 11,000 last month, far fewer than economists had anticipated. Ways and Means Committee Chairman Charles B. Rangel (D-NY) issued the following statement:

"Today's jobs report offers encouraging signs that the Recovery Act is indeed working, and that the economy has started to grow. Over the last three months, job losses have come down to the lowest level in two years. Furthermore, the Congressional Budget Office estimates that the GDP was 1.2 to 3.2 percent higher than it would have been without the Recovery Act.

"However, it is also a sobering reminder of the need to continue to advance policies that stimulate job creation and support the needs of American families and businesses that are struggling. We can begin by extending expiring tax provisions that provide vital resources for businesses that create jobs while also extending unemployment and health care benefits to ensure that Americans who have lost jobs through no fault of their own are able to provide for their families.

"I share the commitment of my colleagues in the Ways and Means Committee, Congress and President Obama to immediately address the needs of struggling American families and businesses particularly those in minority and other communities that have traditionally been underserved and are hardest hit when our economy is struggling."

Click here for additional information on H.R. 1, the American Recovery and Reinvestment Act.

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