U.S. Chamber Comments on December Jobs Numbers

‘The Administration and Congress Must Work To Address Our Long-Term Fiscal Problems through Tax and Entitlement Reform,’ Says Regalia

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

“For yet another month the U.S. economy has turned in a mediocre performance in the labor market with no real improvement in sight. Less than 2/3 of the workforce is even participating in the economy and the unemployment rate is stubbornly fixed at close to 8%. The workweek and the wage rate showed some slight improvement but not enough to offset the negatives from the recent tax hikes. The unemployment rate is about the same but yet the number of discouraged workers rose in December to over 1 million.

“The administration and Congress must work to address our long-term fiscal problems through tax and entitlement reform, and by getting our debt and deficits under control."

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.