Flores Statement on January Jobs Report02/01/13
WASHINGTON, D.C. - U.S. Congressman Bill Flores (R-Texas) issued the following statement regarding the January unemployment report released by the U.S. Bureau of Labor Statistics.
“Our economy continues to struggle due to the inherit weakness of President Obama’s economic policies. In January, we saw the unemployment rate rise to 7.9 percent. As we look deeper into the report, we continue to see a low labor force participation rate of 63.6 percent and a high U6 unemployment rate of 14.4 percent.
“Our continued high unemployment rate, along with the news earlier this week that our GDP contracted in the fourth quarter of 2012, shows that our economy is far from recovered. Over the last four years, under the economic policies of President Obama, average American family incomes have fallen by about 25 percent, the average net worth of American families have fallen, more Americans than ever before are living in poverty, and tens of millions of Americans have been added to the rolls of food stamps and other welfare programs. It is unfair to the American people that those policies are hurting their economic opportunities instead of helping them. American families want more jobs and paychecks – not more food stamps.
“We must work to cut the out-of-control federal spending and reduce our national debt to produce a stable environment for job creation. It is time that we work towards common-sense solutions to balance the budget, create jobs and expand opportunities so that all Americans can prosper.”
Congressman Bill Flores represents the 17th District of Texas and is an entrepreneur, former energy executive, Certified Public Accountant (CPA) and member of the House Budget, Natural Resources and Veterans’ Affairs Committees.