Pelosi Statement on Disappointing Jobs Report

January 4, 2008

Washington, D.C. - Speaker Nancy Pelosi issued the following statement today on the disappointing jobs report that showed that unemployment is up to a two-year high of 5 percent and that private employers cut the number of new jobs for the first time in more than four years:

'As President Bush scrambles to respond with more of the same policies, American workers are losing their homes, seeing their incomes fall and their jobs shipped overseas, and are struggling with skyrocketing energy and health care costs. This morning's jobs report confirms what most Americans already knew--President Bush's economic policies have failed our country's middle class.

'American families need a New Direction for our economy. That is why the Democratic Congress raised the minimum wage, enacted an energy bill to create jobs and reduce energy costs, invested in American innovation, helped make college tuition more affordable, and cut taxes for middle-class families. Much more remains to be done to strengthen our economy, particularly to protect Americans at risk of foreclosure. I hope the President will be a partner with Congress and not act as a roadblock to a New Direction for our economy.'