Job Creators: September Job Report Is More Bad News
(DALLAS, TX) – The president of the Job Creators Network today expressed no surprise in the disappointing September jobs report, saying the Obama Administration “is no better at encouraging job growth than they are at building Web sites.”
The national jobs report, delayed by federal government shutdown, showed new job creation came in at a disappointing 148,000 for the month – far less than the expected 180,000 – proving the US economy continues to stagnate. Meanwhile, the unemployment rate ticked down slightly to 7.2 percent while the number of Americans participating in the workforce remained at 35-year lows.
“This report doesn’t show a recovery, it shows an economy stalled on the side of the road to recovery,” said Alfredo Ortiz, president of the Job Creators Network. “It also proves this administration is no better at encouraging job growth than they are at building Web sites.”
A bare minimum of 200,000 jobs per month is considered the benchmark for measurable and sustained reductions to unemployment, but with only a few exceptions the economy has been showing sub-200,000 performances since Spring of 2012. In addition to an unemployment rate that would not budge, the labor force participation rate stayed frozen at 63.2 percent, well below the two-thirds of working-age Americans who participated in the job market for most of the last few decades. The missing three percent began to steadily fade away from the labor pool during September of 2008 and haven’t returned since.
“The Great Recession drove those Americans out of the workforce and we should be counting them when we measure our economy,” noted Ortiz. “If they were back out looking for work, our unemployment rate is really 13.4 percent.”
Also in the fine print from the Administration’s Bureau of Labor Statistics: 22,000 of the 148,000 new jobs were in the government sector, leaving the private sector job growth at 126,000 for the month that kicked off the brief government shutdown.
“This report proves once again that the government must put policies in place to encourage private sector job creation,” Ortiz said. “Instead, Washington is passing laws like the Affordable Care Act, which discourages job creation and even encourages business leaders to cut employee hours to less than 30 hours a week to establish a part-time America.”
ABOUT JOB CREATORS NETWORK
Job Creators Network (JCN) is the voice of real job creators that has been missing from the debate on jobs and our economic crisis. JCN members talk about paychecks, not politics, helping the public and policymakers understand how to create jobs. For more information please visit www.JobCreatorsNetwork.com for more information.