Tiberi: Pro-growth legislation needed to add jobs to the economy

U.S. Rep. Pat Tiberi (R-OH), the vice chairman of the Joint Economic Committee, called the January Bureau of Labor Statistics unemployment report “disappointing” on Friday, adding that job growth continues to by stymied.

“One can’t shake the feeling that we’re in a ‘two steps forward, one step back’ cycle of growth,” Tiberi said. “The December jobs report had raised hopes of accelerated job creation, which has not been met by today’s numbers. Last week’s announcement of disappointing 0.7 percent growth in the third quarter and a volatile stock market do not give employers the confidence they need to expand and hire workers at an accelerated pace. The administration seems satisfied with modest growth, but we are not getting the job growth America needs.

“Passing pro-growth legislation should be our priority. In order to give our economy the boost it needs to reach our potential, we need the stability of a reformed tax code that puts American families and American businesses first, and we need to eliminate federal regulations that stifle job growth and inhibit innovation.”

According to the bureau’s report, a total of 151,000 non-farm payroll jobs were added to the U.S. economy in January, while the unemployment rate was only slightly changed to 4.9 percent.

The civilian labor force participation rate, according to the report, was 62.7 percent, while the number of citizens who are underemployed, or those working part time but who would prefer to work full time, stood at 6 million people. The number of long-term unemployed workers as a percent of the jobless was 26.9 percent.

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