Jun 08 2020
Washington, D.C.—Today, Congressman Don Beyer (D-VA), the Vice Chair of the U.S. Congress Joint Economic Committee (JEC), released the following statement in response to the National Bureau of Economic Research’s determination that the U.S. economy entered a recession in February when the coronavirus crisis began.
“This is not news to the tens of millions of workers who have lost their jobs since February.
"Even after May’s job gains, the economy has recovered only one-tenth of the jobs lost since the recession began. Policymakers have helped limit the damage, with the Paycheck Protection Program, increased unemployment benefits and expanded eligibility, and other vital relief measures. Even so, the unemployment rate remains higher than at any point during the Great Recession.
"Entire sectors of the economy face extraordinary new challenges remaking themselves to serve customers and build products while simultaneously limiting the spread of coronavirus. It is a very tough challenge indeed and the road to recovery will be long and filled with ups and downs— especially if Senate Republicans continue to block relief legislation."
About Congressman Beyer
Congressman Beyer is currently serving his third term in the U.S. House of Representatives, representing Northern Virginia suburbs of the nation’s capital. In addition to his role as Vice Chair of the JEC, Beyer serves on the House Committee on Ways and Means and the House Committee on Science, Space and Technology. Previously, Beyer served as the Lieutenant Governor of Virginia, Ambassador to Switzerland and built a successful family business over the course of four decades.