Washington, D.C. – U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ January 2012 jobs report showing that the unemployment rate fell to 8.3 percent and 243,000 total nonfarm jobs were added:
“The economy made good progress, adding 243,000 jobs in January – the seventh consecutive month of growth over 100,000 jobs. I am encouraged by the drop in the unemployment rate. We need this type of job growth to continue to bring down the unemployment rate.
“As the Payroll Tax Credit Conference Committee continues negotiations, I urge my fellow members to work towards a bipartisan solution to extend the payroll tax for the rest of 2012. By continuing the payroll tax cut through the end of the year, American families would keep an average of $845 in their pockets- savings that would increase consumer spending, stimulate the economy, and create jobs. We owe it to the American people to act swiftly and get this done.”
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To watch today’s employment hearing, 9:30 a.m. EST in room 210 of the Cannon House Office Building with BLS Acting Commissioner John Galvin, who will testify to recent developments in the labor market and answer questions on national employment trends, click here.