Washington, DC–(ENEWSPF)–November 2, 2012.
This morning’s jobs report confirms that President Obama’s leadership has put our country on the road to economic recovery. Four years ago this month, we lost 489,000 jobs. The President inherited a labor market with 12 straight months of job losses. Under his watch, we have now seen two and a half straight years of job growth, with more than 5 million new private sector jobs created since 2010. We cannot afford to go back to the policies that caused the collapse.
With 171,000 new jobs in October and upward revisions to previous jobs figures, this report is welcome news for working families all over the country who are desperate to get back to work. More than half a million additional workers began looking for and finding jobs in October, swelling the workforce—an important sign of confidence in the future. Yet 7.9 percent unemployment means far too many people are still out of work, and we need much more action to create good jobs.
On November 6, we face a clear choice about the future of our country. The austerity and deep spending cuts proposed by Gov. Romney will gut essential services, including FEMA, and leave the most vulnerable worse off – all to pay for tax cuts for the richest 2 percent. In contrast, President Obama has laid out a concrete plan for shared prosperity based on investing in America and restoring our democracy. The labor movement is committed to the policies of ‘Prosperity Economics’ — reforms that will unite and strengthen America by creating jobs, promoting economic security and rebuilding our democracy.
And once this critical campaign is over, we need the President and Congress to build on the momentum of our recovery to invest in our future—to say no to more tax cuts for the richest 2 percent, no to benefit cuts in our important family protection programs of Medicare, Social Security and Medicaid and yes to creating good jobs. Working together, we will continue to build an economy for all.
Source: aflcio.org
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October Payroll Employment Rises (+171,000); Jobless Rate Essentially Unchanged (7.9%)
