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Conyers: May jobs report proves that the Bush Administration's economic policies effective only at stimulating job loss.

WASHINGTON D.C. — Congressman John Conyers, Jr. released the following statement this afternoon after the Department of Labor reported that the U.S. economy lost 49,000 jobs in May:

"The job report released today by the Department of Labor reinforces what many of us in the Congress have known for some time – this Administration's trickle-down, pro-corporate welfare voodoo economic policies have disproportionately benefited those who meet in America's boardrooms at the expense of hard-working Americans who meet around the water cooler.  The only thing stimulated by tax breaks for outsourcing-happy corporations and the wealthiest one percent is growth in the number of pink slips being handed out across the country.

"While economists debate whether the economy is technically in recession, I know that my constituents in Detroit and Dearborn are feeling squeezed by the retraction of the economy.  While other communities in our country have continued to tread water during this slowdown, Michigan workers have been thrown over the cliff by this Administration's neoliberal trade policies.  While the one-half point jump in the overall unemployment rate in May to 5.5 percent is a serious national concern, prospective employees in Michigan are still faced with a 7.6% unemployment rate – one of the highest in the nation.

"I look forward to working with the next administration to pursue economic policies that will generate economic growth and create jobs, ensure tax equity and fairness, invest in our future, and restore fiscal responsibility.

###06-06-2008###

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