For Immediate Release
Nathan White (202)225-5871
Kucinich: Revised Unemployment Rate no Cause for Celebration
“Unemployment Rate Down As More and More Americans Give Up Hope of Finding a Job”
WASHINGTON - Congressman Dennis Kucinich (D-OH) today made the following statement after the Department of Labor issued new employment numbers that showed 120,000 jobs were created in the month of November and that the unemployment rate is currently at 8.6%, down from 9%.
“One hundred and twenty thousand new jobs in the month of November is a good thing,” said Kucinich. “The drop in the unemployment rate, however, is not a sign of success, but a sign of systemic failure because the rate was lowered as a result of more Americans giving up hope of finding a job.”
The unemployment rate only counts individuals who are actively seeking work. Once an unemployed person gives up hope of finding a job and stops looking for work, he or she is no longer counted in the unemployment figures. A drop in the unemployment rate without new jobs being created means that large numbers of people have simply given up.
“We need 115,000 new jobs each month just to keep up with population growth. The fact that the unemployment rate dropped after only 120,000 jobs were created is evidence that more and more Americans are simply giving up hope that the economy will ever recover.
“The government should not misrepresent this data as good news, but finally get serious and do something to put millions of Americans back to work. The longer we wait, the deeper the pain; skills atrophy, pensions are raided and recent graduates don’t learn the skills they need to become productive members of society. We cannot wait for the private sector. We have to act.
“The National Emergency Employment Defense Act, H.R. 2990, which I recently introduced with Congressman John Conyers, Jr. (D-MI), would assert Congressional primacy over our nation’s monetary policy. It would authorize Congress to spend money into the economy, without causing inflation, to rebuild our infrastructure and create the jobs Americans need.”