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Congressman Larry Bucshon Comments on the April Jobless Rate

Evansville, IN, May 4, 2012

(Evansville, IN) – Congressman Larry Bucshon (IN-08) released the following comment in regards to the April jobless rate.  The rate decreased to 8.1 percent, down from 8.2 percent the previous month.

Congressman Bucshon (IN-08) states:

“While there was a slight decrease in the unemployment rate, it can be directly related to 342,000 Americans dropping out of the labor force.  Unfortunately, the economy is not growing at a rate to sustain long term job creation. There is still too much uncertainty for job creators and small business owners to fully commit their resources to help jumpstart a stagnant economy. Additionally, the same job creators and small business owners are burdened by cumbersome regulations, the threat of Obamacare, and the fear of staggering tax hikes that further impede their ability to succeed. 

“This is the common theme I have heard from many Hoosiers as I travel the 8th District. I will continue to work to create an environment where all Americans have the opportunity to pursue their dream and find well-paying jobs.”

Background:

Since President Obama took office, the nation has lost 572,000 jobs and the unemployment rate has increased from 7.8 percent to 8.1 Percent.

Women account for 567,000 of the 572,000 jobs lost since Obama took office.

The labor force participation rate fell to 63.6 percent, the lowest since December 1981.  Had the labor participation rate stayed the same, the unemployment rate would have been 8.4 Percent.

The real unemployment rate, including those that are working part-time due to economic reasons, is 14.5 percent.

In April, 115,000 jobs were created, the smallest growth in six months.

The unemployment rate has been over 8 percent for 39 consecutive months beginning in February 2009. This is the longest stretch of high unemployment since monthly records have been kept, beginning in 1948.

Congressman Bucshon will be hosting a Jobs Fair in Evansville on May 22nd in conjunction with the City of Evansville and WorkOne.  More information can be found here.

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