WASHINGTON — Secretary of Labor Hilda L. Solis issued the following statement on the November 2010 Employment Situation report released today:
“This past November, nonfarm payroll employment increased by 39,000 jobs, and the unemployment rate increased to 9.8 percent. Furthermore, the job numbers for the months of September and October were revised upward 38,000. This year, we’ve seen the creation of 1.2 million private sector jobs — steady growth averaging 106,000 new private sector jobs each month.
“This private sector job growth, while positive, is not enough to keep up with the new entrants into the labor market each month, let alone create jobs for the 15 million unemployed workers. That’s why we cannot forget the millions of Americans who, through no fault of their own, are still unemployed and looking for work. We still have a lot of work to do before we will have gained back everything that we lost in this recession.
“One way to bolster our economic recovery, and provide desperately needed support for the millions of Americans who continue to wake up every morning and look for work, is to reauthorize expiring Unemployment Insurance benefits.
“These benefits make it possible for unemployed Americans to keep looking for work, and we know that every dollar spent on UI generates $2 in economic activity. Letting these benefits expire will cost our economy half a percentage point in gross domestic product. Congress has a choice, and for the sake of our economy, Congress must reauthorize these expiring unemployment benefits without further delay.
“Today’s numbers make clear the need to push sensible, effective and efficient ways to create jobs. Extending federal unemployment benefits now will help those who need it most and also will provide needed momentum for the economic recovery. It is not just the right thing to do for the unemployed; it is the right thing to do for everyone in America.”
Source: OPA News Release: [12/03/2010]
Contact Name: Bennett Gamble
Phone: 202-693-4667
Release Number: 10-1699-NAT