The January 2011 Jobs Report was released on Friday indicating that the unemployment rate dropped down to 9 percent, which is four-tenths of a percent less than last month and the lowest level since April 2009. In addition, the economy added 36,000 private sector jobs.
Responding to the report, Congresswoman Loretta Sanchez said that “more work needs to be done.”
“Today’s job numbers are positive news for Orange County families, and are proof that efforts to rebuild our economy are catching steam. Over the last two months, the unemployment rate has slowly but steadily declined, reaching its lowest level in nearly two years. This is good news for those who are looking for unemployment, and for the more than 36,000 Americans who returned to work in January. These men and women will help to power America’s expanding economy and steer us into a brighter and better future.
“But more work needs to be done. Millions of unemployed Americans continue to be burdened with escalating financial troubles and mounting frustrations. It’s more important than ever that we commit to passing legislation that creates jobs, supports small businesses, and rebuilds the American middle class, and I am committed to working with my colleagues on Congress to get this done. Powering our recovery and creating jobs in Orange County continues to be my top priority.â€
Secretary of Labor Hilda Solis released the following statement on Friday:
“The unemployment rate declined by 0.4 percent to 9.0 percent, down 0.8 percent in the last two months. The private sector added 50,000 jobs, and revisions indicate 1.1 million jobs were added in 2010. While there is still work to be done, the data show the unemployment rate fell in January because more people are working and not because people are leaving the labor force.
“The drop in the unemployment rate is encouraging, as is the continued growth in private sector jobs. But we know we have to do more, and following up on the legislation the president signed in December, he has outlined an aggressive agenda to win the future by out-innovating the rest of the world.
“President Obama’s recent tax package allows all businesses, including manufacturers, to write off the entire cost of their investments in 2011, a crucial incentive to 2 million businesses — large and small — to invest and create jobs in the U.S. The tax package also includes a two-year extension of the Research and Development tax credit and other tax incentives to support business expansion.
“And we continue to create jobs. Today, in addition to the increase in start-ups and other small businesses, we are encouraged to see the manufacturing sector add 49,000 and retail trade added 28,000. The health care industry also continues to add employment.
“In order to win the future, we must educate our workers, invest in science, and build the infrastructure our companies need to succeed. Innovation will be a key driver of the economy as we strengthen America’s position as home to the world’s best new businesses and industries, and the best jobs.
“I am encouraged by the drop in the unemployment rate and convinced that the actions taken by the administration have helped drive this recovery. We know we have a ways to go. And I look forward to working with the president to win the future for American workers.”
If there was 36,000 jobs added and the unemployment numbers dropped by 12,000 then 36-12= 24,000 new employees were added to the unemployment rolls.
22%
According to an investigation by “60 Minutes,†California’s real unemployment rate is 22%, (17% nationally).
CBS: “The national unemployment rate of 9.5% percent sounds incredibly high and of course, it is. But, it doesn’t nearly capture the depth of the trouble. It doesn’t count the people who’ve seen their hours cut to part-time, it doesn’t count the people who’ve quit looking for work. If you add all of that together, the unemployed and the underemployed, it’s not 9.5% percent, it’s 17% and here in California it’s 22%.”
Posted on October 24, 2010
http://www.realclearpolitics.com/video/2010/10/24/60_minutes_the_real_unemployment_rate_is_17.html
Attention; Chris Prevatt
Re: Financial Crisis Inquiry Commission Report
The truth is Obama has continued every bailout that George W. Bush and Hank Paulson made of Wall Street and London Gambling Casinos pretending to be “banks and other financial institutions.”
Obama lied in his State of the Union Speech, repeatedly. We need to re-instate the FDR Glass-Steagall Bill NOW and cancel 17 Trillion in Fake Debt. With that gambling debt off the books, we fun fund the states and cities that are in dire straights and get 7 million REAL PRODCUTIVE JOBS going again.
The head of the FCIC (read the full report at http://www.fcic.gov) is none other than Phil Angelides the former Democratic State Treasurer and Candidate for Governor of the State of California, as you well know.
He was on radio live on CBS Radio 1070 AM on the dial this past Friday February 4, 2011 calling the whole financial system, “A GIANT PONZI SCHEME.”
Chris, get your head out from where the sun don’t shine, and come to reality. Obama has DONE NOTHING but made things worse. He is a toy and puppet for Wall Street and London finance. He deserves to be removed immediately under the 25th Amendment, Section 4 of th Constitution.
Go onto http:www.larouchepac.com for the full story and updates RIGHT AWAY!
Everyone should also contact their STATE ASSEMBLY AND STATE SENATORS to urge them to contact their US Congressman to PASS GLASS STEAGALL IMMEDIATELY AND Cancel the 17 Trillion Fake Debt the Federal Government has committed to bailouts of illegal gambling debts.
And get on http://www.larouchepac.com for breaking updates on the fight for Glass-Steagall!