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Monday, December 05, 2011

Dent on November Jobs Report: Good, Not Great

I guess we should be happy that unemployment, at 8.6%, is at its lowest point in the past 2 1/2 years. On the other hand, part of the reason for this is that 315,000 people dropped out of the labor force, meaning the rate came down in part because fewer people were looking for work. So it's no surprise that LV Congressman Charlie Dent is ambivalent about the latest figures.

“News that the economy added 120,000 jobs in November, dropping the unemployment rate to 8.6%, is a welcome departure from months of insufficient job growth. However, there is cause for concern in this report, as the drop in unemployment was partially driven by over 300,000 Americans exiting the workforce. While the latest BLS report indicates our economy may be improving, Congress must maintain its focus on advancing policies that help more Americans get back to work.

“This year, the House has passed numerous bills that would help create an economic climate in which job creators have the certainty and confidence to grow, but Washington has failed to enact significant pro-growth policies largely because of an unacceptably idle Senate. The House will continue its work on promoting the development of American energy from all sources, averting tax increases that impede growth, enhancing the nation’s critical infrastructure and providing relief for small businesses and other job creators struggling with onerous federal regulations. But sustaining November’s nominal yet encouraging job growth will require the concentrated effort of both chambers and the White House.”
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1 comment:

  1. AnonymousDecember 5, 2011 at 12:59 PM

    "Congress must maintain its focus on advancing policies that help more Americans get back to work"

    WHERE and WHEN has this occurred in the last 9 months? Name the bill?

    Lets not forget record black friday sales and rally on Wall Street. Ya all know what that means? More gridlock coming to induce more uncertainty in the market.

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