The American Workforce Is Growing Weaker
(Washington, D.C.) – The Bureau of Labor Statistics today reported an unchanged national unemployment rate – at 5.1 percent, with a disappointing 142,000 jobs added during the month. The BLS also announced a downward revision of 59,000 jobs created in the months of July and August. The release also revealed a sharp decline in the labor participation rate, reaching one of the lowest numbers since 1977 – at 62.4 percent.
Daniel Garza, Executive Director for The LIBRE initiative released the following statement:
«For Hispanic families struggling to make ends meet, or young people looking to start their careers, this is not an uplifting report. These two groups are experiencing wage stagnation and low levels of job creation. The lackluster labor demand in the private sector that is causing people to remove themselves from the workforce altogether.
Still, the report shows that 24,000 new government jobs were created, placing a heavier burden on taxpayers to sustain a burgeoning federal bureaucracy of regulators, rulemakers, and enforcers. It is clear that Latinos are frustrated that only Washington seems to thrive and do nothing to curtail spending. Instead, it continues to grow its power by levying more and more taxes, regulating and placing still more and more barriers on job growth.
Hispanics – and Americans in general – are also worried about having enough money for groceries, the power bill, or rent. Policies should be in place to incentivize production and growth, not curtail it. If the president wants to leave a legacy of advancement, it’s time for him to work with Congress in the best interest of our nation.»