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Public Statements

Unemployment Rate is Actually Much Higher

By:
Date:
Location: Washington, DC

Mr. WILSON of South Carolina. Mr. Speaker, last Friday, the National Bureau of Labor Statistics released its jobs report for the month of January and revealed that our Nation's unemployment rate continues to be above 8 percent, marking the 36th consecutive month of record high unemployment.

Dr. Peter Morici, a business school professor at the University of Maryland, recently stated on Fox News that, if you factor in part-time workers who would prefer full-time positions, that unemployment rate becomes 15.6 percent. Factoring in college graduates in low skill positions, like counter work at Starbucks, the unemployment rate is, sadly, closer to 20 percent.

These statistics provide further evidence that the President's policies are failing to provide job creation. I hope the President and the liberal-controlled Senate will work with the House Republicans on the 30 bills that we've already passed for job creation through private sector growth which are currently held in the Senate.

In conclusion, God bless our troops, and we will never forget September the 11th in the global war on terrorism.


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