Straight Talk- Unemployment Data Shows Stalled Economy

Statement

Dear Friends,

This morning, the Department of Labor reported that only 69,000 jobs were created in May, and the unemployment rate rose to 8.2 percent. This disappointing unemployment report should serve as a strong message to Washington that the current policies of this administration are simply not helping small businesses grow and create jobs.

Today's announcement was far below market expectations and well short of the 150,000 jobs needed every month just to keep pace with population growth. The month of May marked the fourth straight month of slowing job growth and the fortieth consecutive month of above 8 percent unemployment. Over three years ago, the Obama Administration said that unemployment would never reach 8 percent if the "stimulus" was approved by Congress. We now know that the big government spending programs of the last three years were not the fix they were claimed to be. Since the failed $1.2 trillion "stimulus" was enacted in February 2009, the unemployment rate has averaged 9.1 percent.

The private sector is under a tremendous amount of pressure due to uncertainty, because federal regulations are at an all-time high, a barrage of new taxes await job creators at the end of the year, and the nation's debt continues to rise. Small businesses are simply not going to hire if they don't feel confident enough in the future to take risks. As long as America's small companies continue to face this kind of uncertainty, we will not experience a full economic recovery powered by small business job creators.

Sam Graves
Chairman

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