Washington D.C. – House Majority Whip Kevin McCarthy (CA-23) released the following statement on the Bureau of Labor Statistics’ December Employment Situation Summary and the troubling labor force participation rate:
“To some, the labor force participation rate is just another arcane economic statistic. But it represents working-age Americans’ collective judgment of our job market. When aspiring job seekers grow discouraged, they give up on our economy. They drop out of the job hunt. They give up on realizing their dreams for themselves and their families.
“In the December jobs report, we learned, to our dismay, that approximately 347,000 Americans gave up on our stagnant economy. Only 62.8% of working-age Americans are actively seeking work. This is the most resounding vote of no confidence in our economy since 1978, the last time such a small percentage of Americans were actively seeking work.
“When the last 44 months show more unemployed Americans gave up looking for work than found it, we know that we must do better.
“I urge Majority Leader Reid to step up and schedule the numerous job creation opportunities passed by the House for a vote on the Senate floor. His ‘brutish style’ of governing the Senate is not encouraging one American to look for a job and that is a tragedy.”