According to the Bureau of Labor Statistics jobs report released this morning, the U.S. unemployment rate increased to 7.9%, up from 7.8%, while the economy added 157,000 jobs. Congressman Larry Bucshon released the following statement regarding today's report.
Congressman Bucshon (IN-08) states:
"As unemployment continued to hover around 8 percent for another month, the Bureau of Economic Analysis announced Wednesday that the U.S. economy contracted for the first time in over three years. Meanwhile, President Obama let his jobs council expire and Harry Reid claimed the economy is in recovery.
"The tax, spend, and regulate approach to economic policy from this Administration has stifled any real economic growth. Uncertainty has caused businesses to scale back the investment needed to create jobs for the millions of Americans who have given up the search for meaningful employment.
"It is time for the President and his Liberal allies in the Senate to get serious about tackling our nation's challenges so that we can grow the economy and expand opportunity. As Chairman of the House Subcommittee on research, I look forward to working with my colleagues on substantive policy that will foster American ingenuity and innovation, the real drivers of economic growth."