CONGRESSIONAL FULL EMPLOYMENT CAUCUS STATEMENT ON MAY JOBS REPORT

Washington, D.C. – Congressional Full Employment Caucus Co-Chairs Congressman John Conyers, Jr. (D-MI), Congresswoman Marcy Kaptur (D-OH) and Congresswoman Frederica Wilson (D-FL) released the following statement on May jobs report numbers:

Dean of the U.S. House
of Representatives
John Conyers, Jr.

“We are deeply concerned by the alarming jobs numbers released by the Bureau of Labor Statistics, which show that just 38,000 jobs were created last month—the weakest number in six years.  Jobs figures for the previous two months were revised down, bringing the average for the last three months to just 116,000.   Although the unemployment rate decreased 0.3% to 4.7%, this reflects increased hopelessness rather than new hiring, as the number of Americans looking for work decreased to 62.6%—a level unseen since the late 1970s. The number of Americans working part-time because they were unable to find full time work increased dramatically to 6.4 million people. Communities of color continue to face crisis-level unemployment rates, showing almost no improvement in employment.

“This disappointing jobs report is sending a powerful message:  it is unacceptable for policymakers, including the Federal Reserve, to take any action that harms job and wage growth. This means that raising the interest rate should be off the table, especially considering the impact it would have on communities of color that have yet to share in the economic recovery. As we wrote to Chair Yellen with 124 other House Members and Senators last month, “By fostering genuine full employment, the Federal Reserve can help combat discrimination and dramatically reduce the disproportionate unemployment faced by minority populations.”

“Despite significant progress in recent years, our job market is still too weak to declare victory. Congress must step up to the plate and work with President Obama to expeditiously pass legislation that creates good-paying jobs. President Obama, Congress, and the Federal Reserve must make clear to the American people that job creation remains our top priority.”

The Congressional Full Employment Caucus was launched in February 2014. Members of the Congressional Full Employment Caucus have introduced three bills to address the unemployment crisis and help Americans access good-paying jobs: H.R. 1000, the Humphrey-Hawkins 21st Century Full Employment and Training Act of 2015, H.R.3555, the Jobs! Jobs! Jobs! Act of 2015, and H.R.1966, the21st Century Civilian Conservation Corps Act. The Congressional Full Employment Caucus serves as a platform and working group for Members of Congress who are dedicated to identifying solutions and advocating for legislative action to reduce unemployment.

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Conyers & Wilson Lead Congressional Letter to New Federal Reserve Chair Janet Yellen Urging Focus on Full Employment

(WASHINGTON) – Today, in response to the ongoing jobs crisis in America, Representatives John Conyers, Jr. (D-Mich.), Frederica Wilson (D-Fla.), and 19 of their Congressional colleagues sent a letter to new Federal Reserve Chairwoman Janet Yellen urging her to focus on the Federal Reserve’s mandate to promote maximum employment. The Federal Reserve’s jobs mandate has a long history, with origins in the Employment Act of 1946, and further affirmations in both the Federal Reserve Reform Act of 1977 and the Humphrey-Hawkins Full Employment and Balanced Growth Act of 1978.  For much of the last century, our political leaders were in agreement: government has a responsibility to strive toward the attainment of full employment. Today, monetary policy remains an essential vehicle for reducing unemployment. The letter encourages Chairwoman Yellen to explore options beyond the current quantitative easing programs to boost the economy as directly as possible. After the letter was sent to Chairwoman Janet Yellen, the leaders of the letter, Representatives Conyers and Wilson issued the following statement:

U.S. Representative
John Conyers, Jr.

Congressman John Conyers, Jr. (D-Mich.):  “While Wall Street is booming, tens of millions of Americans continue to suffer unemployment or underemployment.   Our entire government - including Congress and the Federal Reserve - must work towards a comprehensive agenda to pursue full employment. Chairwoman Yellen has a powerful arsenal of policy tools to combat unemployment and a long history of standing up for working Americans. We know that her policy priorities align with those of the Congressional Full Employment Caucus, and that she will guide Federal Reserve’s policymaking with the plight of the unemployed in mind. In our letter, we encourage the Federal Reserve to search for options beyond quantitative easing to boost the economy directly and efficiently.”

Congresswoman Frederica Wilson (D-Fla.): “I came to Congress to fight for jobs. With the Republican House leadership inexcusably unwilling to act on any meaningful jobs legislation, we must make use of all the economic tools at the government’s disposal. That’s why we’re calling on the Federal Reserve to commit to strong job-creation policies. We have faith in Dr. Yellen, who is not only a historic figure as the first female Fed Chair, but also a champion for low-income Americans.”

Full Employment Letter Chair Yellen 3.13.14

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