Employment Report Shows Need for New Approach
While Payrolls Grow, Wages Fall and Americans Quit Labor Force
(Washington, D.C.) – The Bureau of Labor Statistics reported today that the economy generated 252,000 new jobs in the month of December, while 273,000 people dropped out of the labor force and private sector wages fell. The unemployment rate among Latinos remains significantly higher than the nation as a whole – at 6.5 percent. And the number of Hispanic workers forced to accept part-time work when they prefer full-time work rose from 1.38 million to 1.54 million. This negative trend comes as President Obama has issued a veto threat against the recent House of Representatives legislation to remove a provision of the new health care law that gives employers an incentive to hire part-time workers instead of full-time employees.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
«While the economy continues to add jobs, more Americans are dropping out of the labor force entirely, and millions continue to see their wages fall. More and more Latinos in particular, are being forced into part-time work – instead of the full-time employment they are looking for. Despite this, it seems that the only answer from Washington is more regulation, more taxes, more spending, and more mandates. While some may tout this report, there are many negative aspects to the story that point to an economy that is still struggling to get healthy.
The answer can’t always be more government. Rules that were supposed to make health care cheaper are making it more expensive – and making it much harder for states like California to address pressing problems. Rules intended to make college cheaper have led to a student debt crisis. And now the White House is promising a ‘free’ college education, without explaining how it will be paid for. The last few years have shown us that these promises are too good to be true – that when Washington tries to give valuable services away, it comes at a price. And the negative effects hit our workforce – often hurting the most vulnerable badly. We need a new approach – one that relies on the ingenuity of the American people and market competition to grow our economy, create good jobs, reduce the cost of living, and contribute to a better standard of living.»