Today’s BLS Unemployment Report Confirms We’re Not There Yet
Today's BLS Unemployment Report Confirms We're Not There Yet
Unemployment dips to 7.4%, but job creation has slowed
(Washington, D.C.) – Today's Bureau of Labor Statistics (BLS) report indicating a slight decrease in unemployment, 7.4% from 7.6% in June and 8.1 percent a year ago- mirrors the latest Gross Domestic Product (GDP) and national poverty results that show lackluster economic growth and a staggering national poverty- 46.2 million Americans nationwide living in poverty and unemployment amongst U.S. Hispanics showed large increases, now standing at 2 points above the national rate. Americans are losing sight of the American Dream due in part to lingering unemployment. LIBRE calls for less talk and more action from Washington with real bipartisan policies that unleash private sector growth.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"Today's report comes as the President continues to make his rounds of 'campaign-style' speeches across the country. He's offering the same old promises and failed ideas that got us here in the first place – big government, more taxes, more spending, and short-sighted plans that lack long-term job creation, and that make it harder for people to get jobs and get out of poverty.
Indeed, the most troubling aspect of this weak report is that the Hispanic unemployment rate jumped to 9.4%, up from 9.1% last month. Hispanic youth unemployment is up more than 1 percentage point – to 30.9%, with 446,000 Hispanic youth searching for jobs.
To have millions out of work and 15% of our population living in poverty is an American tragedy that can only be resolved with pro-business policies that unleash the hard work and creativity of America's entrepreneurs and job creators – the real engines of economic growth. Those are policies that Republicans and Democrats should work to put in place to get America working again and believing once more in the American Dream."