Congressman Larry Bucshon Comments on January Jobless Rate

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(Washington, DC) –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.”

BACKGROUND:

For the U.S. House Republicans Jobs Tracker, please click here.

Wednesday, the U.S. Bureau of Economic Analysis announced that, “Real gross domestic product — the output of goods and services produced by labor and property located in the United States — decreased at an annual rate of 0.1 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the “advance” estimate released by the Bureau of Economic Analysis.”

President Obama allowed his Council on Jobs and Competitiveness to expire on Thursday.

According to The Hill, Harry Reid stated Thursday that, “…the American economy is ‘in a recovery’ despite the decline in the nation’s gross domestic product (GDP).”

22.7 million Americans are unemployed, underemployed or have given up looking for work (Bureau of Labor Statistics, Accessed 1/28/13).

The unemployment rate when President Obama took office in January 2009, was 7.8 percent (Bureau of Labor Statistics, Accessed 1/28/13).

Since President Obama assumed office, the average duration of unemployment has nearly doubled from 19.8 weeks to 38.1 weeks (Bureau of Labor Statistics, Accessed 1/28/13).

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9 COMMENTS

  1. I think Larry forgot to tell us “The rest of the story”.

    U.S. stocks rallied Friday, with the Dow closing above 14,000 for the fist time since October 2007, as investors welcomed a batch of strong economic data.

    Friday’s strong advance followed reports on the job market, the manufacturing sector, construction spending and consumer sentiment, which all pointed to a healthy economic recovery.

    The U.S. economy added 157,000 jobs last month, fewer than the 180,000 economists were expecting, but investors were encouraged by the government’s revisions to its 2012 data. The revisions showed that the economy added 335,000 more jobs in 2012 than originally reported.

    “The revisions point to a fairly healthy 181,000 per month trend in 2012, which is more than strong enough over time to bring down the unemployment rate,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics.

    • If you’re happy with the economy, so be it. But about 60 percent of the American public disagree with you. They think that we deserve better leadership that has the vision and the brains to restore robust economic growth and employment in Evansville, Indiana, and The United States.

  2. The Rebubs are still mad and can’t accept the fact that Obama won the election. They want to fight with him and are against everything he tries to do to help the economy. The only word they know is NO.Bucshon needs to get off his dead as# and help Obama GET THINGS DONE.

  3. What Larry Bucshon is not telling you that the economy was in a free-fall when Obama got in there and it has turned around although it is slow going. The uncertainty that Larry Bucshon is talking about is more a result of Republicans refusing to compromise and trying to play politics.

    • Ohbummer has had more than four years to return this country to robust economic and employment growth. He has issued more executive orders than any other President, yet he has accomplished less than any other President since Jimmy Carter. And one of his ambassadors has been murdered-just like the U.S. Ambassador to Iran was murdered in 1979.

      He has failed the American people miserably.

    • What have the Democrat-controlled Senate and Ohbummer accomplished?

      Oh, I know-on average it takes an unemployed person twice as long to find a job to replace the one the employee lost than it took four years ago.

      Thanks for the Great Job, boys!

      • What has Boehner and his cronies done in the house? Not sh*t!!! The only thing they have done is opposed everything Obama wants. Hell even the next Republican candiate for President, Bobby Jindal say the House Republican got to quit being stupid… So maybe you should take this advice also…

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