WASHINGTON, D.C. – Today, House Majority Leader Eric Cantor (R-VA) released the following statement on the national unemployment report for the month of October:
“Today’s unemployment report is a stark reminder that President Obama’s economic policies are failing. America needs a new direction. When President Obama took office, unemployment stood at 7.8%, and today it is 7.9%. Four years, and trillions of dollars later, it is clear that we are on the wrong course. American families are suffering. Parents are taking jobs simply to make ends meet, rather than build a career. Hopeless graduates are entering the workforce with skills that outmatch the jobs available, and paychecks smaller than unemployment checks. Managers can’t hire and businesses can’t grow so long as President Obama insists on taking more of their money.
“After four years of terrible job reports, President Obama only offers them more of the same – more regulation, higher taxes and bigger government. So long as President Obama’s policies remain, so will the negative results – higher energy prices, lower home values, higher health care costs, fewer jobs and less money in your pocket. The President’s policies are not working. We can do better. We can create opportunity and make life work again. We can expand markets, attract investment and make America competitive again. We can rise above the current challenges, but not with empty promises, rising deficits and trickle-down government. 7.9% must not be the new normal. People leaving the workforce is not a recovery. There is a better path forward.”