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RNC Chairman Says Unemployment Remains Painfully High

RNC Chairman Says Unemployment Remains Painfully High
12/7/2012 2:23 PM ET

While a Labor Department report released Friday showed that the U.S. unemployment rate fell to a nearly four-year low in November, Republican National Committee Chairman Reince Priebus said unemployment remains unacceptably high.

The report showed that the unemployment rate fell to 7.7 percent in November from 7.9 percent in October, hitting its lowest level since December of 2008.

"While a downtick in the unemployment rate is welcome news, too many families are still falling behind and unemployment remains painfully high," Priebus said in a statement. "Our number one priority must be getting struggling Americans back to work."

He added, "That's why America cannot afford President Obama's agenda of more stifling regulation, tax increases and reckless spending."

Economists also noted that the drop by the unemployment rate may not be as positive as it seems, as the drop partly reflected a decrease in the size of the labor force as some unemployed people gave up looking for work.

Nonetheless, Alan Krueger, Chairman of President Obama's Council of Economic Advisers, said the report provides further evidence that the U.S. economy is continuing to recover.

Krueger highlighted the addition of 147,000 private sector jobs during the month, noting that private sector employment rose for the 33rd straight month and has increased by a total of 5.6 million jobs during that period.

"While more work remains to be done, today's employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression," Krueger wrote on the White House blog.

He added "It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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