Unemployment

During the last 3 months of the Bush Administration, we lost on average 673,000 jobs per month. In April 2010, we added 290,000 jobs to the economy- the fourth straight month of job growth and the best month for job growth since 2006.

The national unemployment rate for April 2010 is 9.9%. The unemployment (seasonably adjusted) rate in New York State was 8.6%. Syracuse added 300 retailer jobs in April, and unemployment was down from 8.5% in March to 7.7% in April.

The unemployment rate is trending down and the economy is moving in the right direction, but there is a lot of work left to do. Congressman Maffei has always made the economy his number one priority and will continue to do so.

Economic News Update

Syracuse Post Standard, June 17, Jobless Rates Drop in Syracuse, signaling start of recovery

Rochester Democrat and Chronicle, June 10, Rochester, other areas of the state, show 'positive economic activity' 

AP, June 10, Jobless benefit rolls drop sharply; new claims dip

Syracuse Post Standard, May 20, Central New Your unemployment rate rises a little, but could the worst be over?

New York Times , April 25, From the Mall to the Docks, Signs of Rebound

9 WSYR TV, April 27, CNY Restaurants May Be Rebounding

Wall Street Journal, April 2, U.S. economy added 162,000 jobs in March

Recent Legislation in Congress

The House of Representatives recently passed several pieces of legislation aimed at spurring the economy and creating job growth.

• The HIRE Act: On March 18, 2010, President Obama signed the HIRE Act, which includes a payroll tax holiday for businesses that hire unemployed workers, an income tax credit of $1,000 for businesses that retain these employees, as well as tax cuts to help small businesses invest, expand, and hire more workers. Finally, it has provisions to make it easier for states to start work on projects such as school and transportation infrastructure construction that will save American jobs.
  
  
• The Small Business and Infrastructure Jobs Act: On March 24, 2010, Rep. Maffei voted for the Small Business and Infrastructure Jobs Act, which will increase the capital gains tax cut for those who invest in small businesses – giving our small businesses the new capital they need to grow and hire more workers. It will also give American entrepreneurs the resources they need to make it easier to start a new business. The legislation includes an extension of the TANF Emergency Fund which has already put over 160,000 Americans back to work and is increasing demand in our economy. This bill will help create construction jobs by extending Build America Bonds, which provide funding to state and local governments to rebuild schools, hospitals, and sewers in our communities. It will also extend Recovery Zone Bonds for areas with high unemployment so that communities can invest in local infrastructure, job training programs, education, and economic development.
  
  

Historical Data

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