Washington, D.C. - Democratic Leader Nancy Pelosi released the following statement today after the Department of Labor announced that the economy added 204,000 jobs and the unemployment rate rose to 7.3 percent in October. With businesses adding 212,00 jobs, this marks the 44th consecutive month of private sector job growth:
“Today's jobs report is a sign of the resilience of America's businesses and middle class in spite of Republicans' reckless and irresponsible actions and policies. But one thing remains clear: Americans cannot afford anymore Republican-manufactured crises that do nothing but undermine the confidence and stability of our workers and families.
“Consider how much stronger job growth and the economy could be without the Republican Government Shutdown and debt limit brinksmanship. Analysts have reported that the Republican shutdown took $24 billion out of our economy. Yesterday, a new report showed how the unnecessary crisis left 850,000 federal workers off the job at its peak, cost American taxpayers over $2 billion, and reduced spending from visitors to national parks and Smithsonians by more than $500 million. The American people deserve better.
“After months of obstructing progress, Republicans have finally agreed to meet Democrats at the budget table. To avoid another crisis, Republicans must be willing to compromise and drop their irresponsible refusal to discuss tax loopholes. Democrats believe that we must replace the damaging cuts of the sequester by cutting spending on wasteful special interest subsidies and closing tax loopholes for the wealthiest Americans. Democrats are committed to finding common sense solutions to create jobs, grow our economy, and reduce the deficit in a balanced and responsible way.”