WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the Department of Labor reported that the U.S. economy lost 663,000 in March and the unemployment rate hit 8.5%, the highest level since 1983:
“Today’s unemployment report for March delivers more bad news to millions of Americans struggling in this severe economic crisis. Last month, the U.S. economy lost 663,000 more jobs, bringing the unemployment rate to 8.5%, the highest since November 1983.
“However, yesterday, the House passed the Democratic budget that is a part of our comprehensive plan to create jobs and address the immediate and long-term challenges facing our nation. To expand upon the job-creating investments in the American Recovery and Reinvestment Act, the House Democratic budget makes targeted investments in health care, energy, and education. These investments are critical to the long-term economic prosperity of our nation and provide the job-creating initiatives that will help put Americans back to work.
“The Obama Administration and Democratic Congress are committed to providing a better future for millions of American families. While today’s news is grim, it does not dim the bright future and long-lasting prosperity that our hard work today will ensure.”