Press Releases

Unemployment Rate Rises in Exceptionally Weak Recovery

Job growth continues, but jump in workers recently laid off and rise in jobless claims are troubling

May 06 2011

Associated Image Washington, DC -- Following on the heels of a disappointing first quarter economic report, the unemployment rate rose back up to 9 percent in April. The nation also experienced a significant rise in the number of workers recently unemployed, which confirms yesterday's report of a large jump in initial unemployment claims. This as the Bureau of Labor Statistics reported 244,000 new payroll jobs in April.
“Every month of new job growth is welcome, but this is an exceptionally weak recovery, especially given the unprecedented trillions of dollars thrown at the economy by the White House and Federal Reserve," said U.S. Congressman Kevin Brady, the top Republican on the Joint Economic Committee of Congress. “Usually a small jump in the unemployment rate signals people moving back into the workforce, but the rise in jobless claims and jump in workers recently laid off are not signs of a healthy recovery.” 
This shows job creators along Main Street as well as the public remain skeptical of President Obama’s ability to revive the sluggish economy – and for good reason, says the Texas Republican.
“In the face of such a weak recovery it’s puzzling the White House continues to pursue a failing jobs agenda based on higher taxes, more regulation, more expensive energy prices and dangerous deficits. It doesn’t make sense,’ said Brady.
At this point in the Reagan recovery of 1981-82, America had added 6.6 million jobs and the unemployment rate had fallen to 7.3% from 10.8% at the end of the recession. The current unemployment rate is higher than what White House officials had warned would occur if the stimulus was not enacted. The BLS reports 1.8 million fewer payroll jobs today than when President Obama’s stimulus was enacted in February of 2009.     
# # #
Bookmark and Share