Friday
Feb062009
America in a ditch
Friday, February 6, 2009 at 1:58PM
by Christina Lovato, University of New Mexico-Talk Radio News Service
"Today's numbers underline the need to act, and to act now." said Chairwoman Carolyn Maloney (D-NY) at a Joint Economic Committee hearing today.
Today, the U.S. Department of Labor reported that the unemployment rate has risen from 7.2 to 7.6 percent and according to other figures released, 3.6 million jobs have been lost since the recession began in December 2007, including the nearly 600,000 jobs lost in January only.
Senator Robert P. Casey (D-PA) was particularly alarmed from the minority unemployment statistics expressing that, "As bad as this recession has been overall for all Americans it has had a particularly disproportionate adverse effect on African Americans and Latinos." Since the start of the recession, December, 2007, the unemployment rate for African-Americans has gone from 8.9 to 12.6 percent and for Latino's it has risen from 6.2 to 9.7 percent.
The sectors of education and healthcare have maintained relative stability and there has been a job growth seen in those areas. There was a rise in jobs in education and that area has gained 39,000 jobs and in healthcare there has been a growth of 19,000 jobs. In the past three months the motor vehicle and parts industry has lost 75,000 jobs in the major auto producing states.
Chairwoman Maloney ended her opening statement by discussing the economic recovery package. "Alarm bells are sounding and our economic recovery package must make its way to the President as soon as possible. The current economic crisis requires bold solutions that address the magnitude of our economic woes, and the American Recovery and Reinvestment Plan will do just that." she said.
"Today's numbers underline the need to act, and to act now." said Chairwoman Carolyn Maloney (D-NY) at a Joint Economic Committee hearing today.
Today, the U.S. Department of Labor reported that the unemployment rate has risen from 7.2 to 7.6 percent and according to other figures released, 3.6 million jobs have been lost since the recession began in December 2007, including the nearly 600,000 jobs lost in January only.
Senator Robert P. Casey (D-PA) was particularly alarmed from the minority unemployment statistics expressing that, "As bad as this recession has been overall for all Americans it has had a particularly disproportionate adverse effect on African Americans and Latinos." Since the start of the recession, December, 2007, the unemployment rate for African-Americans has gone from 8.9 to 12.6 percent and for Latino's it has risen from 6.2 to 9.7 percent.
The sectors of education and healthcare have maintained relative stability and there has been a job growth seen in those areas. There was a rise in jobs in education and that area has gained 39,000 jobs and in healthcare there has been a growth of 19,000 jobs. In the past three months the motor vehicle and parts industry has lost 75,000 jobs in the major auto producing states.
Chairwoman Maloney ended her opening statement by discussing the economic recovery package. "Alarm bells are sounding and our economic recovery package must make its way to the President as soon as possible. The current economic crisis requires bold solutions that address the magnitude of our economic woes, and the American Recovery and Reinvestment Plan will do just that." she said.
White House Failing To Curb Job Loss, Claims Boehner
House Minority Leader John Boehner (R-Ohio) accused the Obama administration and Congressional Democrats Friday of mishandling the U.S. economy following the Labor Department’s announcement that unemployment has hit 10.2%,
“Today’s report is yet another reminder that American families and small businesses are still struggling, and the White House response is falling short,” said Boehner.
Boehner pointed to failed promises and exorbitant spending, citing the Democrats’ health care reform bill and stimulus plan as steps that will plunge the U.S. further into debt.
“Since the stimulus plan was signed into law, more than three million private sector jobs have been lost,” said Boehner “Now, Speaker Pelosi is pressing ahead with a $1.3 trillion government takeover of health care, endorsed by President Obama, that will destroy 5.5 million jobs according to methodology developed by his own senior economist.”