Washington, D.C. - U.S. Congressman Kevin Brady (R-TX), the lead House Republican on the Joint Economic Committee released the following statement after the Bureau of Labor Statistics reported that July’s unemployment rate is now at 9.4 %: 

“As we saw with last weeks GDP numbers, our economy is no longer in a free-fall, but it’s still in trouble and there is serious structural damage,” said Brady. 
The July report shows a 9.4% unemployment rate while U.S. payroll employment lost 247,000 jobs in July.  

“Consumers are rejecting the stimulus and housing is a continuing weakness. The looming commercial real estate crisis is holding investors at bay and foreign markets are sending up red flags about America's reckless spending spree. Clearly we need a change in direction from the White House. Rather than higher taxes and crippling energy policies we need 21st century incentives to encourage private businesses to invest and create jobs for a sustained and vigorous recovery to occur,” Brady continued.