November 7, 2008

Congressman Perlmutter issued the following statement today after the Department of Labor released its employment report for October. The report shows a loss of 240,000 American jobs, bringing the total number of jobs lost this year to 1.2 million, and a 14-year high jobless rate of 6.5 percent.

“American families are struggling to put food on the table, pay for healthcare costs and put their kids through school. Rising unemployment is another sign of the economic troubles sweeping the nation.

The House passed a bipartisan economic stimulus bill in September, but today’s unemployment numbers send a clear signal that something must be signed into law. We need to work with Senate Republicans and the current President to devise a plan to invest in the critical infrastructure that will put people to work and get our economy moving again. Economic recovery legislation will happen in stages. President-elect Obama will address solutions to the financial crises early in his first term. That is why I am happy to see he has called a meeting today with his economic advisors including Warren Buffett, former Federal Reserve Vice Chairman Roger Ferguson, former Treasury Secretary Robert Rubin and former Securities and Exchange Commission Chairman William Donaldson. I encourage all policy makers to come together in a bipartisan way to help our country’s economy get back on track.”