WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Department of Labor reported that the American economy lost 84,000 jobs in August, bringing the total number of jobs lost in 2008 to 605,000:
“If all you knew about the economy was what you saw on TV at the Republican convention, you might be under the impression that GOP economic policies are a huge success. But today’s jobs report shows just how disconnected from reality the Republican Party really is. Last month, the American economy lost 84,000 more jobs. In fact, jobs have been eliminated every month of this year, with a total of 605,000 jobs lost, and the unemployment rate has hit its highest point in five years. On the most basic level, the very economic policies that John McCain was touting last night have already proven dismal failures.
“No one needs to take my word for it. Americans are feeling the consequences every day, as their wages stagnate, as inflation spirals upwards, as the cost of essentials like gas and food and healthcare reach new highs. In the face of this bad news, Democrats are hard at work confronting this recession, not wishing it away. We’ve passed landmark housing rescue legislation and increased the minimum wage for the first time in more than a decade. We’ve passed an economic stimulus bill and are working on a second one right now. We’ve worked to boost unemployment insurance for these tough times. And we’re meeting record gas prices with a 21st century energy policy that combines increased domestic production with serious investment in the energy of the future.
“The millions of Americans struggling to find new work will be in our thoughts as we dedicate ourselves to rebuilding an economy that works for all of us.”