Press Releases

Congressman Larry Bucshon (IN-08) released the following comment on the December jobless rate.  The current rate is 8.5 percent, down from a revised 8.7 percent last month.

Congressman Bucshon (IN-08) states:

                “The gradual decrease of the unemployment rate is welcoming news, but there are still millions of Americans looking for jobs and millions more that have given up the search altogether.  I began the year touring local businesses throughout the district; small business owners and job creators are struggling to meet current payroll obligations let alone grow and expand.  My focus will continue to be getting Americans back to work.

“The unemployment numbers could be much better if President Obama would stop playing politics and support the many commonsense proposals, such as the Keystone XL pipeline, sitting idle in Washington, D.C. that have bipartisan support and would create jobs immediately.  Instead of supporting the EPA’s war on domestic natural resources, the President should support policies to harness our vast oil, natural gas, and coal reserves to create well-paying jobs and support a strong economy.”

Background:

The labor force participation rate is currently 64 percent, the lowest level since World War II.

The unemployment rate has been over 8 percent for 35 consecutive months beginning in February 2009.

According to Reuters, “…more than 20 million Americans who remain either out of work or underemployed since the end of the 2007-09 recession.”

According to Bloomberg, “Annual benchmark revisions to the household survey showed the unemployment rate averaged 8.9 percent in 2011, down from 9.6 percent and 9.3 percent in the previous two years. It still marked the worst three-year period since 1939 to 1941.”

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