Continued Job Losses Demonstrate Need for 2nd Economic Stimulus Package
New Haven , CT – Congresswoman Rosa L. DeLauro (Conn.-3) issued the following statement following the announcement from the Labor Department that for the third month in a row, the U.S. economy shed another 80,000 jobs and that the job loss numbers for January and February were revised downward. March also saw the unemployment rate rise to 5.1%.
“Given the third consecutive month of job losses – the biggest decline in five years – and rising unemployment, it is clear that more must be done to mitigate the Bush recession.
“Families in Connecticut and across the country are struggling – struggling to find a new job, to keep their home, pay bills and just make ends meet. It is outrageous that the Bush Administration is now telling these families to be patient. Instead, we need to move quickly with a second economic stimulus package that can bring relief to struggling homeowners – those facing foreclosures or a loss in the value of their homes due to the housing crisis – and that creates an environment for job growth.
“One way we can do that is by investing in infrastructure. In rebuilding our roads and bridges – projects already in the works and those still in the planning stages – we will benefit public safety, as well as create critical jobs, which cannot be outsourced. According to state transportation departments, there are $18 billion in ready-to-go infrastructure projects across the country. And for every $1 billion spent on construction, approximately 47,000 jobs that cannot be outsourced are created and up to $6 billion is added to Gross Domestic Product.
“We cannot sit and wait for additional job losses to create an even worse situation. We must act now to strengthen our economy and reverse the Bush economic downturn.”
###
|