Pelosi Statement on New Jobs Numbers

March 5, 2004

Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement on the disappointing national job numbers, the continued loss of manufacturing jobs, and the downward revision of November and December 2003 jobs numbers:

"Today’s report is devastating to the 8 million Americans still looking for a job.

"President Bush’s rosy economic predictions do not match the reality of millions of middle-class Americans. Not a single private sector job was created last month, and merely 21,000 jobs were created overall -- far fewer than economists projected.

"Since President Bush took office, manufacturing jobs are hemorrhaging. The President has already lost 2.8 million good paying manufacturing jobs and continues to lose more every single month. In order for President Bush to add one new private-sector job during his entire presidency, 269,000 private sector jobs must be created every month.

"Clearly, this President’s economic policies do not work. America is ready for a change.

"Democrats are fighting for responsible economic policies that create jobs. We are working to pass a bipartisan bill -- the Crane-Rangel-Manzullo-Levin bill -- that would lower taxes for American manufacturers, and keep good paying jobs in the United States.

"President Bush and the Republicans in Congress should stop catering to the corporate interests that put them in power and start representing the priorities of the American people."

Employment Numbers for California:
· 284,900 private sector jobs lost in CA since Bush took office
· 300,800 manufacturing jobs lost in CA since Bush took office
· 329,875 more people are unemployed in CA since Bush took office
· Unemployment rate in CA is 6.4%, higher than the 5.6% nationwide.

Source: Bureau of Labor Statistics, Jan 04

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