Today, the Department of Labor revealed the number of first-time unemployment claims was 900,000 last week.
“On Day Two of the Biden Administration, it’s clear we are facing a new economic emergency,” says Alfredo Ortiz, President and CEO of the Job Creators Network (JCN). “Jobless claims continue to soar, as small businesses shutter to comply with government-imposed lockdowns. The PPP, which began making loans to small businesses last week after a five-month hiatus, can help bridge the gap for businesses as vaccine distribution ramps up. But we cannot afford the left-wing agenda that President Biden is pushing. Yesterday, on his first day in office, the President cancelled the Keystone pipeline, ending 20,000-30,000 jobs directly and many more indirectly. Now, the President is pushing his $1.9 trillion stimulus bill, which includes a $15 minimum wage. The non-partisan Congressional Budget Office estimates a $15 minimum wage will destroy 1.3 million jobs at a time when unemployment is already growing. Two days into the Biden administration, the new leadership is already taking a big toll on our economy.”