WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement on the March jobs report released today by the Department of Labor, showing 162,000 jobs added to the economy in March – the largest one month increase in three years:
"Today's news that our economy added 162,000 jobs is an important sign that the economy is turning around after many months of job losses. Even after accounting for the census, the long-term picture shows that Democratic economic policies averted catastrophe, and are starting to return our economy to strength. In the first quarter of 2009, President Obama inherited an economy that shed more than 2 million jobs; in the first quarter of 2010, by contrast, America is adding jobs again.
"However, millions of Americans remain out of work, and there will not be a full recovery until the economy adds many more jobs. Sustained job growth clearly depends on strong private sector growth, which is why Congress has taken action to boost the private sector, such as passing a job creation tax credit, and why that work continues with efforts to increase access to loans for small businesses. Thanks to the Recovery Act and other job-creating measures like the HIRE Act that was just signed into law, progress is being made.
"With an unemployment rate of 9.7%, there still are far too many families struggling, making it critical that Congress continue the to give those families a chance to get back on their feet by extending unemployment insurance and health care for jobless Americans--instead of holding them hostage to political games."