WASHINGTON, D.C. – Today, the U.S. Congress Joint Economic Committee (JEC) released the March 2012 edition of its state-by-state snapshots which detail each individual state’s economic progress for the previous month. The report shows widespread private-sector gains reaching nearly four out of five states, with 285,000 private-sector jobs added nationally in January.
U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after today’s announcement from the U.S. Department of Commerce that the U.S. trade deficit for goods and services increased by $2.2 billion to $52.6 billion in January 2012.
WASHINGTON, D.C. – U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ February 2012 jobs report showing that 227,000 total nonfarm jobs were added and the unemployment rate remained unchanged at 8.3 percent:
WASHINGTON, D.C. – In observance of Black History Month, the U.S. Congress Joint Economic Committee (JEC), Chaired by Senator Bob Casey (D-PA), released a fact sheet detailing the economic well-being of the African American community. The Great Recession caused devastating effects to the African American community, evidenced by record-high unemployment which hit a high of 16.7 percent. Although the unemployment rate for African American workers remains significantly higher than it was when the recession began, the decline in January to 13.6 percent may signal future improvement in the community’s employment situation.
Washington, D.C. –U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after today’s announcement from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis that the U.S. trade deficit widened for the second straight month in December 2011:
“Today’s announcement that the U.S. trade deficit increased 3.7 percent in December 2011 to $48.8 billion, the highest level since June, highlights the growing need for policies that help increase exports and protect American workers from unfair competition abroad.
“The recent trade report also underscores the need for a comprehensive U.S. manufacturing strategy. All of our major global competitors have national manufacturing strategies. We must make it a priority to implement a national manufacturing strategy that supports U.S. manufacturing companies and workers, if we are to close the trade gap. The manufacturing industry is responsible for 70 percent of all private-sector R&D spending in the United States and is an engine of innovation. By aligning behind a manufacturing strategy, we can help to create jobs and strengthen our competitive position.
“Additionally, Congress must continue to work on legislation, such as the Currency Exchange Rate Oversight Reform Act of 2011 – which I sponsored and passed Senate in the fall – that will crack down on currency manipulation, which costs millions of U.S. jobs and that unfairly and negatively impacts U.S. trade. Ongoing undervaluation of currency, such as the Yuan, continues to cause severe economic disruptions and imbalances globally and is taking a significant toll on manufacturers and workers across the United States.
“Our strategy should also increase access to training programs that focus on improving the skill sets of workers. Equipping our workers with the skills they need to find jobs will help to ensure that employers are able to find the skilled employees they need to operate and expand their businesses.”
International trade data released today by the Census Bureau showed the U.S. trade deficit widening by $48.8 billion. Exports increased by $1.2 billion over the month to $178.8 billion, but imports grew by $3.0 billion to $227.6 billion. For the full year of 2011, the U.S. trade balance declined by $558 billion. However, relative to the size of the U.S. economy, the trade deficit ticked down only 0.3 percentage points to 3.7 percent from 3.4 percent in 2010.
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U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement on the Bureau of Labor Statistics’ January 2012 jobs report showing that the unemployment rate fell to 8.3 percent and 243,000 total nonfarm jobs were added.
WASHINGTON, D.C. – In anticipation of the second meeting of the Payroll Tax Cut Conference Committee, the U.S. Congress Joint Economic Committee (JEC), Chaired by Senator Bob Casey (D-PA), released a new report detailing how much money would stay in the pocket of one- and two-earner families at a county-level based on median wage and salary income per worker.
U.S. Senator Bob Casey (D-PA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the announcement from the Bureau of Economic Analysis that Gross Domestic Product grew by 2.8 percent annual rate in the fourth-quarter of 2011.
Today, the U.S. Congress Joint Economic Committee (JEC) released the January 2012 edition of its state-by-state snapshots which detail each individual state’s economic progress for the previous month.
Jan 24 2012
JEC Releases New Report on Economic Impact of the Payroll Tax Cut and Federal UI Benefits
As the Payroll Tax Cut Conference Committee meets for the first time today, the U.S. Congress Joint Economic Committee (JEC), Chaired by Senator Bob Casey (D-PA), released a new report highlighting the critical role the payroll tax cut and unemployment insurance benefits play in sustaining the economic recovery.
