Washington, DC – Heading into the Labor Day weekend, America's economic outlook remains grim. In August the unemployment rate stayed unchanged at 9.1% with no job growth. August’s payroll job growth rate of zero is shocking. The American economy needs to create at least 130,000 jobs each month just to break even over time.
"More than 22 million Americans can't find full time work, while 6 million out of work Americans have been unable to find work for more than six months," said U.S. Congressman Kevin Brady (R-Texas), the top Republican on the Joint Economic Committee. "How long must Americans suffer through this dismal economy before the White House finally changes course?"
Next Thursday, President Obama will announce what his press office is touting as a new jobs strategy before a joint session of Congress.
“Like the movie ‘Groundhog Day’ we will again wake up to learn the President has decided his number one focus is on jobs. What's clear is that his speech is a public admission that his economic leadership has failed to restore a strong American economy."