Today Congressman George Holding released the following statement regarding the Department of Labor's unemployment report for February 2013:
"Today's jobs report showed that 236,000 new jobs were added in the last month. While these numbers do reflect progress, it is not enough. 236,000 jobs may have been added, but this does not factor in how many have been lost, nor does it diminish the fact that there are still too many families struggling to make ends meet. People are taking jobs they are overqualified for, struggling to find jobs that match their skills, and are in massive debt from student, home, or other bank loans. More must be done to create jobs for these people.
Although the unemployment rate has gone down to 7.7%, this number is misleading about the reality of the workforce. Unemployment has gone down, but so has the labor force participation rate -- in short, people have simply stopped trying to find a job. The report also failed to highlight that the long-term employment rate rose in the past month.
I certainly appreciate the progress that has been made, but in January 2009 economists from Obama's team predicted that the unemployment rate by 2013 would be 5.1%. These latest numbers are just another example of President Obama's false promises, and we most look beyond selective statistics and promote pro-growth, pro-job policy."