Press Releases
Brendan Daly/Nadeam Elshami
202-226-7616
05/02/2008
Pelosi Statement on Disappointing April Jobs Report, Fourth Straight Month of Job Losses
Washington, D.C. – Speaker Nancy Pelosi today released the following statement this morning after the Department of Labor released its employment report for April showing a loss of 20,000 jobs, the fourth consecutive month of job losses:
“Today’s jobless numbers, combined with slowing consumer spending and nearly flat wage increases, are additional evidence of the need for Congress and the President to work in a bipartisan way on additional steps to get our economy back on track.
“Many Americans fear losing their jobs, many fear losing the homes; and most everyone is worried about losing their standard of living. The New Direction Congress has responded by passing Recovery Rebates, which millions of families are now receiving.
“We will soon act on comprehensive housing legislation that provides the most assistance to Americans of any plan yet to help them refinance and keep their homes. We should also extend unemployment insurance for Americans whose benefits will soon expire and offer additional food stamp assistance to families struggling with rising food costs. We are also calling on the President to act to combat record gas prices by halting the filling of the Strategic Petroleum Reserve.
“We urge the President to work with Democrats in Congress to speed economic recovery and to provide critical relief to American families.”
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State of the Bush Economy
Job Losses: In April, Americans suffered the fourth straight month of job losses totaling 260,000 since the beginning of the year.
Wages: Hourly earnings grew at the slowest rate in two years. Over the last 12 months, wages have grown by 3.4 percent -- less than the 4 percent rate of inflation in the 12 months ending in March.
Unemployment: The number of unemployed Americans is at 7.6 million – 800,000 more than one year ago -- with 1.4 million of them looking for work for more than six months.
Energy: Gas prices are at a record $3.62 a gallon and the price of a barrel of oil spiked to a record $120 this week.
Food: Consumer food inflation has been running at a 5 percent annual rate in the past three months – with the largest price increases in white bread, up 16 percent in the past year; milk, which is up 13 percent; and eggs, up 35 percent.
Health Care: Since 2001, premiums for family health coverage have climbed 78 percent, with workers paying more than $3,200 per year.