U.S. Senator Olympia J. Snowe (R-Maine) issued the following statement today on the release of the October 2012 Employment Report from the U.S. Department of Labor's Bureau of Labor Statistics:
"The addition of 171,000 jobs is certainly welcome news and a step in the right direction if we are to put this economy back on track and Americans back to work, but it is still below the level needed just to get back to pre-recession employment levels. It is clear we face a long road ahead before our economy is fully recovered. With an increase in the unemployment rate to 7.9 percent, this jobs report is a reminder that we are mired in the worst post-recession recovery in our history. That is precisely why I have called on Congress to pass serious legislation, like regulatory reform and comprehensive tax reform, so that small businesses will in turn have the ability to hire new workers, invest in new equipment, and bolster our economy. We've wasted a considerable amount of time in Congress these last several months when we could have been laying the groundwork to prepare for the lame duck session. As Congress returns to Washington after the election, we must now work together to provide the American economy with confidence while tackling the "fiscal cliff' issues, rather than punting decisions on critical tax and financial matters even further down the road."