U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) released the following statement today in reaction to the U.S. Department of Labor's report of 140,000 private sector jobs being created in November and the nation's unemployment rate dropping to 8.6 percent.
"Today's announcement that the unemployment rate has dropped to 8.6% is encouraging. This is the lowest level since March 2009, the earliest weeks of President Obama's administration. We now have had 21 consecutive months of private sector job growth."
"While we have made undeniable progress, these numbers leave much to be desired. Layoffs of public sector employees, including our police officers, firefighters and teachers, continue to be a drag on employment and our economy. We lost 20,000 public sector employees this month, in addition to the 278,000 we've already lost over the past year."
"Congress needs to do more. Big banks still aren't provided the credit that small businesses need to hire new employees, especially in industries like manufacturing and construction. Congress must also extend unemployment insurance benefits to help job seekers pay their bills, as well as extend and expand the Social Security payroll tax cut. That one tax cut put $872 back in New Jersey workers' pockets this year, more than in any other state in the Union. "