STATEMENT: Boushey: Today’s jobs numbers indicate a “holding pattern”
Contact: Madeline Meth
Washington, DC – Today, Heather Boushey, Senior Economist at the Center for American Progress, had the following reaction to the announcement of October unemployment figures:
October marks the 10th straight month of private sector job gains, with the private sector adding 159,000 jobs this month. This is the strongest jobs gains since April. However, the unemployment rate remains stuck at 9.6 percent and another 254,000 workers dropped out of the labor force in October, an indication of the challenges that the unemployed continue to have finding work in this job market.
The Federal Reserve’s quantitative easing should help to keep interest rates low and boost exports, but the nearly 15 million unemployed—with four-in-ten of those out of work and searching for a job for at least six months—continue to need access to long-term unemployment benefits. Congress should act quickly this month to maintain benefits for the unemployed before they expire on November 30. And it should commit to this policy until the unemployment rate comes back down.
To speak to Boushey about the monthly jobs report, contact Megan Smith at 202-741-6346 or firstname.lastname@example.org.
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or email@example.com
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or firstname.lastname@example.org
Print: Allison Preiss (economy, education)
202.478.6331 or email@example.com
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or firstname.lastname@example.org
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or email@example.com
Spanish-language and ethnic media: Rafael Medina
202.478.5313 or firstname.lastname@example.org
TV: Rachel Rosen
202.483.2675 or email@example.com
Radio: Sally Tucker
202.481.8103 or firstname.lastname@example.org