Unemployment rate doesnt tell the true story about stagnant paychecks and Americans struggling to find full-time work" says Brady
Texas Insider Report: WASHINGTON D.C. Rep. Kevin Brady the top House Republican on the Congressional Joint Economic Committee (JEC) commented on todays report from the Bureau of Labor Statistics (BLS) that the economy added 252000 nonfarm payroll jobs (240000 in the private sector) during December and that the unemployment rate declined to 5.6.
Fewer Americans were in the workforce last month with the labor participation rate falling to 62.7 - again reaching the multi-decade lows that have plagued the Obama recovery.
As expected job growth moderated this month after Novembers brisk pace and still leaves our economy missing 5.8 million private jobs" Brady said. While the unemployment rate has fallen it doesnt tell the true story about stagnant paychecks and Americans struggling to find full-time work."
Unless Americans are willing to settle for less economic opportunity than the generation before us we need to focus on building a business climate that encourages faster growth. Thats why I challenge President Obama to work with Americas new Congress to approve the Keystone XL pipeline fix the broken tax code rebalance job-killing regulations and reform the Federal Reserve to focus on preserving the purchasing power of the American dollar. Its time to unleash the power of Americas Main Street job creators."
