DeLauro September Job Numbers Statement
Statement
DeLauro September Job Numbers Statement
Congresswoman Rosa L. DeLauro (CT-3) issued the following statement following the announcement by the Labor Department that the economy shed 159,000 jobs - the most in more than five years. The losses effected nearly every sector of the economy: manufacturers cut 51,000; construction companies cut 35,000; retailers cut 40,000; business services cut 27,000; financial services cut 17,000; securities and investment firms cut 8,000; and leisure and hospitality companies cut 17,000.
"These unemployment numbers are staggering. Nine straight months of job losses, with September the worst yet and in fact, the worst in over five years. Once again the sharpest drop is in good-paying manufacturing jobs where employment fell by 51,000. We must step in to turn around this economy. We must restore the middle class. I am committed to doing so.
"That is why we must extend unemployment benefits for workers who have exhausted regular unemployment compensation. Unless we do so, this Sunday nearly 800,000 workers will face even tougher times as their unemployment benefits end. Economists still consider this one of the best options to stimulate the economy.
"These latest unemployment numbers demand that we also address the tightening credit market that hurts our economy by making it next to impossible for small businesses and families to access the credit necessary for a functioning economy. For the small businesses unable to secure the credit to expand or replace obsolete equipment, they are forced to downsize or close their business - resulting in further job loss. That is why we are working to pass a financial rescue bill to help hardworking, struggling middle class Americans, the small business people who are the economic backbone of Connecticut and our country.
"While this Congress is taking decisive action to reverse the Bush Administration's economic policies, I look forward to working with the new Administration to create an aggressive job strategy that includes investing in job creating infrastructure, new green energy jobs, and other measures that give consumers more income."
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