MAY JOB FIGURES: NO CHANGE

Statement from Robert Borosage of the Campaign for America’s Future:

Washington, DC — “In a statement released today on the May jobs report, Robert Borosage, co-director of the Campaign for America’s Future, warned that this report showed an economy that was treading water.

“No change” was the theme of the report. But no change at a time of mass unemployment and stagnant wages is a human tragedy and national emergency,” said Borosage. “Austerity lite is failing here, just as austerity has failed in Europe. It is time for Congress to stop its slash and ruin policies, and start rebuilding the country and putting people back to work.”

The full statement on the jobs report follows:

“The May jobs numbers – with a net growth of 175,000 jobs – shows an economy that is treading water. There is no change in the unemployment rate or number of unemployed, no change in number of long-term unemployed.

“Worse, there is no change in the employment-population ratio, which “has shown little movement” over the past year. Labor force participation rate similarly is unchanged, and slightly down for the year.

“There is no sight of any relief on jobs. The jobs that are being created are primarily in business services,” food services and drinking places” and retail trade. These tend to be low paid, part-time jobs with few benefits. With Americans still struggling with mass unemployment, at least they will have more people serving them at “drinking places.

“Federal government employment is down, as the sequester and budget cuts take effect. Manufacturing and construction showed no change.

“This is a national emergency and a human tragedy. Over 20 million people remain in need of full-time work. A young generation is graduating into the worst jobs market since the Great Depression. It is long past time for Washington to stop treating this reality as normal and start treating it as a crisis. Austerity has failed.

“It is time for government to act to put people to work, not to throw more out of work.”

The Campaign for America’s Future (CAF) is a center for ideas and action that works to build an enduring majority for progressive change. The Campaign advances a progressive economic agenda and a vision of the future that works for the many, not simply the few. The Campaign is leading the fight for America’s priorities – for good jobs and a sustainable economy, and for strengthening the safety net.

The Campaign for America’s Future (CAF) is a center for ideas and action that works to build an enduring majority for progressive change. The Campaign advances a progressive economic agenda and a vision of the future that works for the many, not simply the few. The Campaign is leading the fight for America’s priorities – for good jobs and a sustainable economy, and for strengthening the safety net.