Jul 05 2013 -
“Four Years After Recession Ended, Millions of Jobs Missing From U.S. Economy,” Brady says
Washington, D.C. – Rep. Kevin Brady (R-TX), Chairman of the congressional Joint Economic Committee, responded to today’s announcement by the Bureau of Labor Statistics (BLS) that the economy added 195,000 nonfarm payroll jobs during June and that the unemployment rate was unchanged at 7.6%.
“We are not seeing the ‘summer swoon’ that’s the hallmark of this historically weak Obama recovery, but neither are we seeing the strong, sustained jobs numbers that signal a strong recovery,” said Brady. “Here it is four years after the recession officially ended. The economy is still stuck in low gear and President Obama has failed to deliver on his promise to create the Main Street jobs that middle class America deserves.”
Brady adds, “The statistics are undeniable. 2.2 million fewer people employed and 1.6 million fewer private sector jobs than when the recession began. A $1.2 trillion gap in real GDP compared to the average post-World War II recovery. Since the recession ended the percentage of adult Americans that are employed has actually declined. The decline in the unemployment rate is largely a mirage driven by people dropping out of the labor force, not because people have found jobs.”
“These are not the signs of a healthy recovery.”