Representative Carolyn Maloney, Chair of the Joint Economic Committee (JEC), and Senator Charles E. Schumer, Vice Chair of the JEC, released a report today estimating the impact of the Healthy Families Act (S. 1152, introduced by Senator Chris Dodd, and H.R. 2460, introduced by Representative Rosa DeLauro), on access to paid sick leave.
Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC) released the following statement on the Bureau of Labor Statistics' February jobs report showing that the unemployment rate was unchanged at 9.7% and 36,000 total nonfarm jobs were lost.
Mar 05 2010
JEC Hearing on February Jobs Report
Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee, holds a hearing on the newly released employment figures for February from the Bureau of Labor Statistics (BLS).
Mar 03 2010
February Employment Report: Bad news likely due to effect of snow storms across the Northeast
On Friday, March 5, the Bureau of Labor Statistics (BLS) will release its February 2010 employment report, showing the net number of jobs created or lost during the month of February as well as the unemployment rate. Currently, the consensus forecast is that 50,000 jobs were lost in February, although estimates range from 150,000 jobs lost to 30,000 jobs gained.
Feb 05 2010
JEC Chair: “Today’s job report shows progress, but we must continue focusing on job creation."
JEC CHAIR MALONEY: “TODAY’S JOB REPORT SHOWS PROGRESS, BUT WE MUST CONTINUE FOCUSING ON JOB CREATION”
Joint Economic Committee Hears from Bureau of Labor and Statistics on January Jobs Report
Washington, D.C. – The Joint Economic Committee (JEC) held a hearing on the newly released employment figures from the Bureau of Labor Statistics (BLS). BLS Commissioner Keith Hall testified to recent developments in the labor market and answered questions on national employment trends.
“During the last three months of the Bush administration, we lost an average of 727,000 jobs per month. In contrast, during the most recent 3 months of the Obama administration, we lost an average of 35,000 jobs each month. The trend is heading in the right direction,” said JEC Chair Carolyn B. Maloney.
Before a hearing today of the Joint Economic Committee, BLS Commissioner Keith Hall testified, “The past three months, we’ve had essentially no change [in jobs], a dramatic improvement over earlier.”
Today's employment report included some notable bright spots:
• The temporary help sector, an early indicator of progress in the labor market, added 52,000 positions in January, and has added 247,000 jobs since September.
• The manufacturing sector expanded for the first time in three years, adding 11,000 jobs.
• Average weekly hours have risen, probably driven by the increase in manufacturing hours, which have increased 1.2 hours since June. Average weekly earnings have also risen.
• The number of people working part time, but who would like full-time work fell by nearly 850,000 and reached its lowest level in a year. Combined with the average work week increasing, this is a sign that there are more full-time positions available.
“Today’s jobs report makes it clear – we are making progress, but the road to recovery will be long, and it will not be easy. While we have brought the economy back from the brink, we are not yet where we need to be in terms of job creation. The mission is to create high-quality private-sector jobs,” said Chair Maloney.
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
www.jec.senate.gov
# # #
www.jec.senate.gov
# # #
Feb 05 2010
JEC Chair Maloney on January Jobs Report
JEC Chair Maloney on January Jobs Report
Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ January jobs report showing that the unemployment rate fell to 9.7 percent and 20,000 total nonfarm jobs were lost:
“The January jobs report, showing a drop in unemployment, provides fresh evidence that the Recovery Act has gotten the economy moving again and is helping to get Americans back to work. We’ve come a long ways since January 2009, when 779,000 jobs were lost. While we still have a great deal of work to do, and far too many Americans remain unemployed or underemployed, today’s report is an important sign of progress. It shows that the GDP growth recorded in the past two quarters is now having an impact on the labor market and making a difference in the lives of Americans looking for work.”
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
www.jec.senate.gov
www.jec.senate.gov
###
Joint Economic Committee to Hold Hearing on Job Creation and Economic Growth on Feb. 9
Washington, D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), will hold a hearing to discuss ways to promote job creation, as well as discuss the short-term outlook for employment and economic growth. The hearing entitled, “The Road to Economic Recovery: Policies to Create Jobs and Continue Growth,” will take place Tuesday, February 9, 2010 at 10 a.m. in room 210 of the Cannon House Office Building.
The JEC will hear from expert witnesses regarding: the short-term outlook for employment and GDP, including some recent CBO forecasts; best practices to create jobs in the private sector, including the design of an employer tax credit; and forecasts of growing sectors of the economy and the regional employment implications of that growth.
WHAT: Hearing on “The Road to Economic Recovery: Policies to Create Jobs and Continue Growth”
WHEN: 10:00 a.m., Tuesday, February 9, 2010
WHERE: 210 Cannon House Office Building
WHO: Panel I
The Honorable Douglas W. Elmendorf, Director,
Congressional Budget Office
Washington, DC
The Honorable Alan Blinder, Gordon S. Rentschler Memorial Professor of Economics and Public Affairs
Co-Director of Center for Economic Policy Studies
Princeton University
Princeton, NJ
Dr. Lawrence Katz, Elisabeth Allison Professor of Economics and Research Associate of the NBER
Harvard University
Boston, MA
Panel II
The Honorable Roger C. Altman, Founder and Chairman
Evercore Partners
New York, NY
Dr. Mark Zandi, Chief Economist
Moody’s Economy.com
Philadelphia, PA
Mr. Jeffrey Joerres, CEO
Manpower Inc.
Milwaukee, WI
Additional witnesses may be added.
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
www.jec.senate.gov
# # #
# # #
Jan 29 2010
JEC Chair Maloney on 4th Quarter GDP Report
Rep. Maloney's Statement on 4th Quarter GDP Report
Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement on the announcement that the real gross domestic product (GDP) increased at a rate of 5.7% in the fourth quarter of 2009:
“Today’s GDP number shows that the recovery which began in the third quarter of 2009 accelerated in the fourth quarter. The economy has now grown for the past six months, providing fresh evidence that the Recovery Act, which Congress passed in February 2009, is working.
“After four quarters of the economy contracting, we now have two quarters of growth and continued signs that the economy is on an upward path. We need to be vigilant that this increase in GDP translates into an immediate increase in jobs. In Congress, we need to continue to focus on creating good jobs that lift employment levels, boost consumer spending, and strengthen our economy.”
The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
###
Washington, D.C. – A new report released today by the Joint Economic Committee (JEC) provides a snapshot of the current economic climate in each state, offering policy makers easy access to the major economic indicators in all 50 states and the District of Columbia in the areas of jobs, unemployment, personal earnings and housing.
“Understanding the Economy: State-by-State Snapshots” offers a gauge of the economic landscape of each state, allowing for quick comparisons with other states and to the overall U.S. economy.
“We believe the state reports are a useful resource for Members of Congress and other policy makers as well as interested individuals who want access to fresh, reliable, state-specific data without having to dig around for it,” said Chair of the Joint Economic Committee (JEC) Congresswoman Carolyn Maloney. “These state pages offer a guide to the state of local economies across the country, helping us to better understand the specific impacts of the Great Recession and also to see where growth and recovery have begun to take hold."
Major indicators in the state reports include:
• Private sector job creation or job loss since the start of recession;
• Jobs saved or created by the Recovery Act;
• Unemployment rate;
• Per capita earnings;
• Condition of the housing sector.
The United States economy has begun to improve since the beginning of 2009, when 741,000 jobs were lost in the month of January alone and real gross domestic product (GDP) fell by 6.4 percent in the first three months of the year. The magnitude of job losses diminished throughout 2009, with the average quarterly job loss declining from 691,000 in the first quarter to 69,000 in the fourth quarter.
JEC Chair Maloney added, “Families across the country have faced the worst economy since the Great Depression, marked by a housing crisis, credit crunch, massive job losses and significant wealth destruction. But in recent months, we have begun to turn the tide. The Recovery Act has helped to get GDP growing again and lifted employment by 2 million jobs. As we continue to work in Congress to create more jobs, boost growth and bring down unemployment, the JEC state reports will provide an effective way to track the progress we are making.”
###
