The July job losses were the lowest of any month since last summer. Last week, the Commerce Department also reported better-than-expected news that the GDP has swung more than 5 percentage points in just three months — evidence that the economy is headed in the right direction:
Today’s better-than-expected news on job losses and a slight drop the unemployment rate is evidence that the recession is slowing and that our economic policies – such as the economic recovery act passed earlier this year — are beginning to take a positive effect.
Millions of Americans remain unemployed, and we must redouble our efforts on their behalf; unemployment figures are cold comfort to those grappling with daily survival.
Though we have a long way to go to rebuild the economy, we are headed in the right direction and beginning to see real results with our efforts to create good-paying jobs, reduce health care costs, and build a 21st century American economy.
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