U.S. Chamber Comments on September Jobs Report

‘While The Numbers Indicate A Much Lower Probability Of A Double Dip, They Continue To Show An Economy That Isn’t Growing Fast Enough To Create Enough Jobs To Drive The Unemployment Rate Down,’ Says Regalia

WASHINGTON, D.C.—U.S. Chamber of Commerce Chief Economist Dr. Martin Regalia issued the following statement on the September employment report:

“The jobs report this month provides a bit of good news but it’s kind-of like pulling a tie out of a game you thought you were losing. While the numbers indicate a much lower probability of a double dip, they continue to show an economy that isn’t growing fast enough to create enough jobs to drive the unemployment rate down. We’re creating jobs at a pace that is barely enough to employ the new people entering the workforce.

“These numbers suggest that the policy response ought to be focused more on improving the underlying long-run growth in the economy rather than on knee-jerk short-run stimulus.

“The recent move to send the trade agreements through is a step in the right direction. But there is a lot more that needs to be done. Leaders in Washington should remove impediments to growth and job creation. These actions should include investing in infrastructure to rebuild our crumbling roads and bridges and put idle construction workers back to work, moving on increasing domestic energy, which will create jobs in America, reduce our reliance on foreign oil, and generate revenue for the government, speeding up the permitting process so projects can get underway more quickly and remove other regulatory barriers that are weighing down the economy, and streaming the travel and tourism industry.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.