financialservices.house.gov

Cmte Financial Services (R)
Contact:


Bachus: Private Sector Is The Source Of True Economic Strength And Job Creation

WASHINGTON, Jun 4 -

- Financial Services Committee Ranking Member Spencer Bachus today made the following statement regarding the May jobs report that found only 41,000 private sector jobs were created.

"The job creation estimates for May are disappointing, especially given the unreliability of Census hiring predictions in 1990 and 2000. 

"It is even more disturbing that only 41,000 private sector jobs were added to the real economy.  Even if the estimates of temporary Census jobs are correct, these government positions do not contribute to the GDP.  The Census jobs may be necessary and will certainly help the families involved, but they do not provide growth to the real economy.

"It is long past time to discard the belief that the government is the source of all power and recognize that the private sector is the source of true economic strength.  We need to implement policies that get Americans back to work creating products and services that the world wants and needs.

"When we look to the government to create jobs, as some did today, we will always be disappointed."

###