Marathon Pundit: After two years, unemployment rate finally below 9 percent

Friday, March 04, 2011

After two years, unemployment rate finally below 9 percent

There is some good news this morning, the February national unemployment rate fell to 8.9 percent, down from 9.0 in January.

But let's not forget that in pushing its stimulus bill, the Obama administration promised that the rate would not go higher than 8 percent.

This is the first time in over two years that the unemployment rate has been below 9 percent--let's hope the drop continues.

Rep. Peter Roskam (R-IL) issued a statement about the jobs numbers:

Today's jobs numbers indicate that our economy is showing slight signs of recovery from the failed policies of the last few years, but there are far too many Americans still out of work. Unemployment is still well above eight percent over two years after the failed 'stimulus' – due to the trillions in wasteful spending and debt and the constant threat of higher taxes under Democrats' rule.

From day one of our Majority, Republicans' number one focus has been to remove the barriers to job creation and today's report shows that our efforts are starting to work. From preventing job-crushing tax increases this past December, to voting to cut Washington's spending in a meaningful way, to just yesterday passing the repeal of an onerous mandate on small businesses, Republicans are working to restore certainty to the marketplace.

Yet millions of Americans are still struggling to find a job. And unfortunately for the millions that remain out of work, Washington can't get out of the private-sector's way fast enough. We need to continue to focus on cutting Washington's spending and debt and restoring certainty to the marketplace through initiatives like reforming our tax code and passing the stalled free trade agreements. These reforms will create a better environment for the private sector to create jobs.