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A Welcome Step In The Right Direction

February 5, 2010

Today, the Department of Labor released their January jobs report which showed that 20,000 jobs were lost last month — down from the 779,000 job losses in January 2009 – and that the unemployment rate dropped from 10% to a five month low of 9.7%:

January Jobs Report 2010

Speaker Pelosi on today’s report:

Today's jobs report marks a welcome step in the right direction for our economy and our families: the unemployment rate is going down. The Recovery Act, which Congress passed one year ago to pull our economy back from the brink of collapse, has already created or saved nearly 2 million jobs so far.

Yet our work is far from over. This recession that President Obama inherited has taken the worst toll on our job market since World War II. Too many workers have lost their jobs through no fault of their own. Leaders of both parties must work together to keep our recovery on track by helping small businesses create jobs, investing in our infrastructure and clean energy industries, and keeping police, firefighters, and teachers on the job. Congress will continue to act to build a new foundation for long-term prosperity.