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Portland, OR -- In preparing to welcome President Bush to Portland, Congressman Wu called on him to help save jobs in Oregon by asking the Federal Reserve to reverse its recent decision to close its check processing center in Portland.
“I am distressed that the Federal Reserve has decided to close its check processing operations in Portland, resulting in the loss of 34 jobs at the facility,” said Congressman David Wu. "While I understand the need to consolidate check operation centers given the decline in the number of checks written, I feel strongly that decisions about job cuts in Oregon should factor in our high unemployment rate. I would consolidate jobs into, not out of, Oregon."
In early 2003, the Federal Reserve announced that it would begin restructuring its check processing facilities throughout the country. Last week the Federal Reserve announced that the Portland check processing center would be closed and the work would be redirected to a center in Seattle, Washington. This move prompted Congressman Wu to send a letter to President Bush and to Federal Reserve Chairman Alan Greenspan asking them to reverse the decision. Congressman Wu would rather see the federal government creating, not cutting jobs in Oregon during these tough economic times.
In addition to Congressman Wu's actions today, he has been working hard in Congress for those Oregonians who are still struggling to find work. He has offered a series of amendments to extend the length and increase funding for the unemployment benefit system and he has lobbied fellow Members of Congress and other governmental officials to gain support for an unemployment benefit extension.
Since 2001, Oregon has lost over 50,000 jobs and has held a 7% unemployment rate for most of the past three years.
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