Washington, D.C. - Congresswoman Carolyn B. Maloney, Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics' November jobs report showing that the unemployment rate increased to 9.8 percent and 39,000 total nonfarm jobs were added:
“The latest jobs report shows that we added 50,000 private sector jobs in November -- not as many as we had hoped for. While we have 11 straight months of private sector job gains, that’s little consolation for the more than 15 million Americans looking for work. The report underscores the need for Congress to put aside the politics and deal with unemployment benefits.
action, two million Americans will lose their unemployment benefits by the end
of this month, including 200,000 unemployed workers in my state of New
York. Ending the emergency unemployment program would remove $80 billion
in purchasing power and result in the loss of up to one million jobs over the
next year -- almost as many private sector jobs as we have added in the past
“My Republican colleagues have offered few ideas on how to create jobs, but have been vocal and steadfast in their opposition to unemployment benefits for those without jobs. They cite concerns about the deficit as their reason for wanting to end the federal unemployment program. But, with unemployment benefits, every dollar spent generates two dollars of economic activity, according to a recent study commissioned by the Department of Labor. It’s one of the most cost-effective investments we can make. I urge my Republican colleagues to join with Democrats in continuing the unemployment insurance program.”
Joint Economic Committee, established under the Employment Act of 1946, was
created by Congress to review economic conditions and to analyze the
effectiveness of economic policy.