|Terry Reacts to Rise in Unemployment|
WASHINGTON, DC – Congressman Lee Terry (R-NE) released the following statement on reports the economy added only a net total of 69,000 jobs in May and that the jobless rate rose to 8.2%. The report from the Bureau ofLabor Statistics also revised figures for March and April down, stating there were 49,000 fewer jobs created during those two months than previously reported.
"It is alarming that the jobs growth number for May was 50 percent less then even the lowest expectations. But even more frustrating is the fact that the unemployment rate has been hovering over 8 percent for 40 consecutive months," Terry said. "These lackluster numbers, along with the uncertainty caused by the looming tax changes and the continued economic crisis in Europe are stifling job creation when we need it the most."