The Department of Labor reported this morning that the U.S. economy shed 598,000 jobs in the month of January, the largest single-month total since 1974, bringing the unemployment rate to 7.6 percent. In response to these staggering figures, the U.S. House Education and Labor Committee’s top Republican, Rep. Howard P. “Buck” McKeon (R-CA), issued the following statement:
“There is no doubt about the severity of the challenges our economy is facing. Workers are losing their jobs, businesses are closing their doors, and families are losing their homes. We need bold action to stop the bleeding, and we need it now.
“Both parties need to come to the table with meaningful solutions that will quickly stimulate the economy and help Americans get back to work. That means rapid tax relief and other proven strategies that will let middle-class families spend more of their own money and allow small businesses to create the jobs that will revive our economy. It would be a grave mistake to use this crisis to advance a partisan agenda. The stakes are simply too high.
“Education and workforce development are critical ingredients to long-term economic success, and I stand ready to work with my colleagues on the Education and Labor Committee to reform America’s job training system to assist job-seekers and strengthen educational opportunities to train the workforce of the future. But with the stunning job losses reported this morning, it is clear that our immediate focus must be on stimulus, and stimulus alone.”
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