Pelosi: Today's Dismal Jobs Report Shows That We Need Action Now on Economic Recovery Plan

January 9, 2009

Washington, D.C. -- Speaker Nancy Pelosi released the following statement today in reaction to new economic statistics that show 1.9 million Americans have lost their jobs in the last four months and that the unemployment rate has risen to 7.2 percent, the highest since 1993. In total, 2.6 million jobs were lost in 2008--the worst year for employment since 1945.

"With 2.6 million jobs lost in 2008 and an unemployment rate of 7.2 percent, the American people have inherited an economy from the Bush Administration that is in the depth of recession. Today's dismal jobs numbers show once again what Democrats in Congress have been saying for more than a year: our nation needs a bold economic recovery and reinvestment plan that will create American jobs and put our nation back on track to prosperity.

"We need action now on an economic recovery package that will create jobs, invest in rebuilding America, provide tax relief to the middle class and small businesses, and help working families with health care, education, and other critical services.

"Congress and President-elect Obama are currently working together on an American Recovery and Reinvestment Plan, ensuring the plan has worthy, needed, fully screened investments. We are committed to passing this legislation by Presidents' Day so that our new President can sign it into law and start to grow our economy."