WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Department of Labor announced unemployment numbers for August:
“Today, the Labor Department announced that America lost 216,000 jobs last month. It is always disappointing when our economy loses jobs; that number means that this is a time of personal struggle for thousands more Americans and their families.
“But even today, it is clear that our economy continues to recover from the recession that began in December 2007. This month’s job losses continue a pattern of improvement: in fact, August was the month with the fewest job losses in a year. Rebounds in the stock and housing markets, and a stabilizing GDP, all give us reason to believe that we are on the road to recovery. And it is now also increasingly clear that the Recovery Act has been a success: it has infused $88 billion into the economy so far, met or exceeded all the implementation goals set for it this summer, and, according to economists, resulted in a 2%-3% increase in annual GDP over the first half of this calendar year.
“While jobs are always the final piece of an economic recovery, I am hopeful that, as Recovery Act funds continue to hit the economy this fall as scheduled, the number of job losses will continue to decrease. As we honor America’s workers this Labor Day, our country has real cause for hope.”