U.S. Representative Thaddeus McCotter Statement on May Unemployment Report

Statement

U.S. Representative Thaddeus G. McCotter (MI) on May's Unemployment Report:

"Today, the Bureau of Labor Statistics announced the seasonally-adjusted unemployment rate for May rose to 8.2%, above 8% for the 40th consecutive month. 69,000 jobs were added in May, down from 115,000 in the disappointing April report. The real unemployment rate, which more accurately assesses U.S. unemployment by including unemployed Americans who are discouraged and have stopped looking for work, also increased to 9.6%. For the 69,000 Americans who were fortunate enough to find employment, May was an encouraging month and we share in their joy. But we cannot be content in these gains alone, for the sake of the 12.7 million more who remain jobless.

"This report is especially disconcerting on the heels of this week's first-quarter gross domestic product (GDP) growth revision downward from 2.2% to 1.9%. The deficit-spending and over-regulation policies of the past four years continue to stagnate the economy and handcuff job-growth. Our Michigan communities should not have to struggle to grow and succeed, weighed down by onerous regulation. Government should be working with our communities to promote economic growth instead of consistently maneuvering against them. I will continue to push for a pro-growth, pro-job creation agenda to finally place this nation back on the right-track."

Source