The January 2011 Jobs Report was released on Friday indicating thatÂ the unemployment rate dropped down to 9 percent, which is four-tenths of a percent less than last month and the lowest level since April 2009.Â In addition, the economy added 36,000 private sector jobs.
Responding to the report, Congresswoman Loretta Sanchez said that “more work needs to be done.”
â€œTodayâ€™s job numbers are positive news for Orange County families, and are proof that efforts to rebuild our economy are catching steam.Â Over the last two months, the unemployment rate has slowly but steadily declined, reaching its lowest level in nearly two years.Â This is good news for those who are looking for unemployment, and for the more than 36,000 Americans who returned to work in January.Â These men and women will help to power Americaâ€™s expanding economy and steer us into a brighter and better future.
â€œBut more work needs to be done.Â Millions of unemployed Americans continue to be burdened with escalating financial troubles and mounting frustrations.Â Itâ€™s more important than ever that we commit to passing legislation that creates jobs, supports small businesses, and rebuilds the American middle class, and I am committed to working with my colleagues on Congress to get this done.Â Powering our recovery and creating jobs in Orange County continues to be my top priority.â€
Secretary of Labor Hilda Solis released the following statement on Friday:
“The unemployment rate declined by 0.4 percent to 9.0 percent, down 0.8 percent in the last two months. The private sector added 50,000 jobs, and revisions indicate 1.1 million jobs were added in 2010. While there is still work to be done, the data show the unemployment rate fell in January because more people are working and not because people are leaving the labor force.
“The drop in the unemployment rate is encouraging, as is the continued growth in private sector jobs. But we know we have to do more, and following up on the legislation the president signed in December, he has outlined an aggressive agenda to win the future by out-innovating the rest of the world.
“President Obama’s recent tax package allows all businesses, including manufacturers, to write off the entire cost of their investments in 2011, a crucial incentive to 2 million businesses â€” large and small â€” to invest and create jobs in the U.S. The tax package also includes a two-year extension of the Research and Development tax credit and other tax incentives to support business expansion.
“And we continue to create jobs. Today, in addition to the increase in start-ups and other small businesses, we are encouraged to see the manufacturing sector add 49,000 and retail trade added 28,000. The health care industry also continues to add employment.
“In order to win the future, we must educate our workers, invest in science, and build the infrastructure our companies need to succeed. Innovation will be a key driver of the economy as we strengthen America’s position as home to the world’s best new businesses and industries, and the best jobs.
“I am encouraged by the drop in the unemployment rate and convinced that the actions taken by the administration have helped drive this recovery. We know we have a ways to go. And I look forward to working with the president to win the future for American workers.”