Hoyer Herald - December 4, 2009

Statement

As Congress continues its work to create jobs and ensure a sustainable economic recovery, there was positive news this week on the impact of steps we have already taken. Nearly a year after President Obama inherited the worst economic crisis since the Great Depression, the nonpartisan Congressional Budget Office reported this week that the Recovery Act Congress passed in February to help rebuild the economy has created more than one million jobs, while growing the economy for the first time in more than a year.

Meanwhile, the latest jobs report released by the government today shows that the national unemployment rate dropped from 10.2 to 10 percent.While this still represents a net loss of 11,000 jobs, the number is the lowest it has been since December 2007 when the recession began, and a marked improvement over peak job loss numbers prior to the Recovery Act's enactment. While these reports are reasons to be hopeful, the President and Congress will not rest as long as so many Americans remain out of work.

Hear more about Congress' efforts to strengthen Maryland families and small businesses, as well as the nation's long-term fiscal future in the telephone town hall discussion I held this week. CLICK HERE FOR AUDIO

The House plans to continue our focus on jobs and the economy next week when we consider the Wall Street Reform and Consumer Protection Act (H.R. 4173), legislation to protect American consumers and prevent the irresponsible behaviors and practices that contributed to the financial crisis last fall.

As always, thank you for allowing me to share this update with you. If there is anything you wish to share with me or bring to my attention, please do not hesitate to contact my office.

With warmest regards, I am

Sincerely yours,

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