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For Immediate Release
2.4.2011

Mulvaney: “Clearly, our economy is not going in the right direction.”

Rock Hill, S.C. – Congressman Mick Mulvaney (SC-05), Chairman of the Small Business Committee’s Contracting and Workforce Subcommittee, today released the following statement after the Department of Labor announced that January marked the 21st consecutive month of 9 percent unemployment or higher:

“Some folks may view 9 percent unemployment as an improvement, but an honest assessment reveals that this report is just more bad news.  Not only does the unemployment rate remain far too high, but the labor force continues to shrink.  Clearly, our economy is not going in the right direction.

“Like so many other states, South Carolina’s economic growth is driven by small businesses.  But to get small businesses hiring again, the federal government must make it more affordable for businesses to operate and expand.  Repealing the ridiculous 1099 provisions included in Obamacare would be a great step forward, and I’m excited that the Small Business Committee will hold a hearing on that issue next week.”

Technical Note: The unemployment rate is the number unemployed as a percent of the labor force (currently 9%). The labor force participation rate is the labor force as a percent of the population (currently down to just 64.2%).

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