Chicago Sun-Times
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Horrible, scary new job loss numbers out Friday

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THE WHITE HOUSE

Office of the Press Secretary

__________________________________________________________________________________________________
For Immediate Release February 6, 2009


STATEMENT ON TODAY'S EMPLOYMENT NUMBERS FROM CHRISTINA D. ROMER
CHAIR, PRESIDENT'S COUNCIL OF ECONOMIC ADVISERS

Today's report from the Bureau of Labor Statistics is the latest evidence that the U.S. economy is contracting greatly. Payroll employment declined by 598,000 in January, bringing the total job loss since the recession began in December 2007 to 3.6 million. This is the largest 13-month job loss since the payroll employment series began in 1939. The unemployment rate rose from 7.2 to 7.6%, bringing the number of unemployed Americans to 11.6 million.

These numbers, and the very real suffering of American workers they represent, reinforce the need for bold fiscal action. If we fail to act, we are likely to lose millions more jobs and the unemployment rate could reach double digits. Prompt, well-designed fiscal policy is necessary to stop the decline and heal the economy. The American people are counting on leadership from Washington to help the economy recover and lay the long-term foundation for long-term economic growth.

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1 Comment

THE KEY WORD IS SCARY, AND HALLOWEEN IS IN
OCTOBER!
PHONE YOUR SENATOR AND TELL HIM YOU WANT THE
STIMULUS PLAN NOW!

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on February 6, 2009 9:03 AM.

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