Today, U.S. Representative Jim Renacci (OH-16) released the following statement on the disappointing November unemployment report:
"Another month has passed and our economy is still struggling under the weight of massive federal spending and mountains of new regulations. The unemployment rate remains an unacceptably high 8.6 percent. 315,000 Americans left the labor market in November and while they haven't found jobs, they will no longer be counted in the official unemployment calculation. The fact that hundreds of thousands of people are giving up their search for work each month is a sure sign the tax-and-spend policies adopted by many in Washington have done nothing to improve our economy. In fact, each monthly unemployment report serves as a devastating reminder that a bigger government will not produce a better economy.
"As someone with almost 30 years of experience in the business community I understand that real, sustainable job growth can only come from the private sector. American business owners and job creators recognize that runaway spending today will lead to higher taxes tomorrow. Businesses are also drowning in a sea of new regulations. The threat of higher taxes and ever more damaging regulations has essentially frozen hiring. In response, my colleagues and I in the House have passed more than 20 bipartisan bills to address these barriers to job creation. The Senate needs to act on them so we can begin to increase employment and grow our economy again."
Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.