Rokita Statement on November Unemployment

Statement

Today Rep. Todd Rokita responded to another weak labor report from the U.S. Bureau of Labor Statistics showing that the economy only created 120,000 jobs in the month of November. Rokita issued this statement:

November's jobs numbers are just another example in a long string of bad economic news. Unemployment has now been above 8 percent for 34 months, a staggering stretch exceeded only by the Great Depression. This is striking evidence that the policies of bigger government, more regulation, higher taxes and more reckless spending do not create jobs.

I expect the Administration to claim victory because the unemployment rate dropped from 9 percent to 8.6 percent. However, if you dig into the numbers, it is clear the decline in the rate can largely be attributed to over 300,000 Americans simply giving up their search for a job," Rokita said.

Other economic indicators continue to paint a troubling picture of the overall state of the economy. The underemployment rate remains above 15 percent. 43 percent of the unemployed have been seeking work for 27 weeks or more. A recent survey of NFIB's membership showed just nine percent of these small businesses planned to hire in the next three months. Considering small businesses have created 69 percent of all new jobs between 1993 and 2008, it is not a reason for optimism.

"We can create an environment where the future is more certain, companies can afford to hire, small businesses can afford to grow, and entrepreneurs and investors can take the risks required to revitalize our economy. In order to do so, government must get out of the way, reduce crippling regulation, reform the tax code and enact policies that foster the type of environment where private sector growth can occur and millions of jobs can be created," Rokita said.

There are currently more than 20 bills designed to help create a positive environment for job creation languishing in the Senate. It's time for President Obama and Senator Reid to stop worrying about politics and elections, and start worrying about jobless Americans and their families.

Source