Economy Sheds 36k Jobs In February
The U.S. Department of Labor today announced that 36,000 jobs were lost in the month of February bringing the number of Americans looking for work to 14.6 million. Congressman Jack Kingston (R-GA) believes today's announcement is further proof that the Obama Administration's economic policies have failed.
"As usual, Washington is turning a deaf ear to those on the front lines of our economy: small businesses," said Congressman Kingston. "In my district, small businesses are calling for lower taxes, regulatory relief and less government spending. Instead, just yesterday the House passed another phony jobs bill with a price tag of $15 billion. It's as if Speaker Pelosi and Leader Reid have sentenced our economy to death by a thousand cuts."
In the month of February, the construction and information industries laid off more than 80,000 workers. Those cuts were offset by new hires in temporary health services and the federal government.
In addition to the unemployed, 2.5 million workers were marginally attached to the economy meaning they have not searched for employment in the past four weeks. Of those, 1.2 million are classified as discouraged workers meaning they do not believe gaining employment is possible.