McCarthy: 10.2% Unemployment Reiterates Need for Stronger Jobs Policies
Washington D.C. – Today, Congressman Kevin McCarthy issued the following statement after the U.S. Department of Labor announced unemployment has reached a 26-year high of 10.2%. The October report shows another 190,000 jobs were lost, which marks 22 consecutive months of job losses, the longest in 70 years.
“Unemployment rising above 10% is another wakeup call to Washington that Congress needs to focus its priorities on real solutions to help our small businesses grow and create jobs. Instead, we’re spending our time debating a two thousand page, $1.3 trillion dollar health care bill filled with hundreds of billions of dollars in crushing taxes on small businesses, which create over 70 percent of all new jobs. This is the wrong approach. That is why my colleagues and I put forward a health care bill that can save families an estimated $5,000 per year, reduce the burdening deficit in order to grow our economy, and help put Americans back to work.
“When the stimulus was signed into law earlier this year, unemployment was 8.1%. Almost 10 months later, we’ve seen 2.8 million jobs lost and unemployment rise to 10.2%. America wants jobs created so people can go back to work and that is why my colleagues and I designed a bold solution to revitalize our economy. Our solution creates an estimated 6.2 million jobs- twice as many jobs at half the cost of the trillion dollar stimulus. Americans need Congress to do better, to take strong bipartisan action that promotes pro-growth policies that unleash the strength of American entrepreneurship and grow American jobs.”