Washington, DC — Today’s discouraging employment report confirms what the American people said loud and clear on Tuesday — the President needs a new economic direction.
"If we are to jumpstart this sub-par recovery, President Obama must change course now," said U.S. Congressman Kevin Brady (R-Texas), the top House Republican on the Joint Economic Committee. "With the jobless rate stalled out at 9.6% in October and economic growth at an anemic 2%, we are unlikely to see real improvement in our economy until the President orders a full stop on his economic policies and charts a new course."
With 6.21 million Americans unemployed for six months or longer, there are simply not enough private sector jobs being created. Last month, 159,000 private sector payroll jobs were created, but we need to be adding at least 200,000 payroll jobs per month in order to significantly reduce the unemployment rate.
"While President Obama and the Democrats in Congress spent the last two years doubling down on the size of the federal government, they forgot that government jobs only last as long as taxpayers are willing to foot the bill," added Brady. "The American people didn’t forget. That’s why they spoke so loudly on Tuesday. If the President wants to show that he’s willing to listen, he could start by extending the Bush tax cuts to all Americans."