WASHINGTON, Nov. 6 /PRNewswire-USNewswire/ -- U.S. Secretary of Labor Hilda L.
Solis today issued the following statement on the October 2009 Employment
Situation report released today:
"This past October, the economy lost 190,000 jobs, and the unemployment rate
increased to 10.2 percent.
"We have known for some time now that the unemployment rate could reach this
level, and it is an unacceptable situation. We are working hard to reverse
these circumstances for the millions of Americans who need and want work but
cannot find it.
"When this recession began in December 2007, the housing market was
collapsing, and with the subsequent credit collapse, small businesses were
unable to raise the working capital necessary to keep their employees on
payroll. When this administration began its work in January 2009, the economy
was in a freefall, shedding 700,000 jobs a month.
"This administration met these challenges head on by immediately putting a
plan into action to create jobs and drive economic growth. As a result,
housing markets are now showing signs of recovery, credit is flowing again and
just last week we saw that the economy is growing, rather than shrinking, for
the first time in a year.
"As the economy recovers, more businesses will begin hiring workers, and there
are signs of transformation and growth even in sectors that were hardest hit.
For example, last week, Vice President Biden announced Fisker Automotive Co.'s
purchase and reopening of the closed GM Boxwood Plant in Delaware. The company
expects to employ 2,000 workers and produce as many as 100,000 long-range
hybrid cars annually.
"In Nevada, I toured the NV Energy operations center, where the power company
is planning to upgrade homes using smart grid technology. The
administration's investment in these types of projects will not only create
thousands of jobs but lead to clean energy tomorrow.
"The Department of Labor is helping workers acquire the skills necessary for
jobs in emerging and growing sectors. This past year, hundreds of thousands
of people have taken advantage of our Workforce Investment Act training
programs. Three-quarters of these workers are expected to get jobs shortly
after completing training programs.
"As we prepare workers for new jobs and careers, we are also providing needed
assistance to those that have lost their jobs. This morning, the president
will sign an expansion of unemployment benefits as well as an additional tax
cut for struggling businesses to help save and create jobs. These extended
unemployment benefits will strengthen our economy further and create new jobs
as the benefits are spent on food, clothing, rent and other household needs.
"At the Department of Labor, we are working tirelessly to ensure that we
fulfill our responsibility to provide workers with the assistance they need
today and to help them find good jobs.
"We still have a ways to go before we can be sure that all Americans have
access to good jobs, but I am confident that we will reach that goal. And I
will make sure that the Department of Labor is supporting workers every step
of the way."
SOURCE U.S. Department of Labor
Bette Gamble of the U.S. Department of Labor Office of Public Affairs,
+1-202-693-4667, +1-202-693-4650
