Carson: Drop in Unemployment is a Sign of Economic Growth, Success of Recovery Act
February 5, 2010
WASHINGTON, D.C. - Congressman André Carson issued the following statement in response to reports showing that the national unemployment rate has dropped below 10 percent. According to January unemployment numbers, the jobless rate stands at 9.7 percent-the lowest Americans have seen since August 2009.
"The last several months have been some of the most difficult in this prolonged recession as unemployment rates hovered above 10 percent and employers continued to cut jobs. For many Americans, growth and recovery have seemed distant and uncertain.
"But today's announcement that unemployment rates have fallen to the lowest level in five months is yet another sign that our nation is steadily climbing towards recovery. Unemployment rates-typically a lagging indicator of economic growth-give us a clear indication of the direction our economy is taking. Numerous reports and leading economists agree that the American Recovery and Reinvestment Act is working-our economy is growing, job losses are beginning to taper off and there is a belief that many unemployed Americans may soon see expanded job opportunities.
"Even with this progress, we're not out of the woods yet. Congress must continue its push for smart, targeted investments to spur job creation, tax incentives to help small businesses grow and policies to get capital flowing again from local banks into our communities.
"Our progress to date is a testament to the hard work of the American people and a clear sign that the Recovery Act is doing exactly what it was designed to do. This landmark legislation has already put more than one million Americans back to work and has given businesses the stability they need to survive these difficult times. In the weeks ahead, I look forward to working with my colleagues to keep the momentum going and continue our charge to put Hoosiers back to work."