Rep. Lankford: July Jobless Numbers Continue to Indicate Bleak Outlook

Washington, D.C. – Representative James Lankford (R-OK) issued the following remarks after the Bureau of Labor Statistics announced that the national unemployment rate climbed to 8.3% in July. Our fledgling economy only added 163,000 jobs in July while approximately 150,000 people gave up on the job hunt.

“The unemployment numbers issued today are not surprising, but they are also nowhere near the employment estimates promised by the Obama Administration,” said Representative Lankford.

“The Administration continues to ignore their overregulation and red tape in this stagnant and sluggish economy. As the unemployment rate demonstrates, regulations are a burden to the economy.  Red tape slows job growth because it disincentivizes business and international investment.

“This is the time to admit that centrally-controlled regulation policy is not working. Our economy cannot move in the right direction without regulatory relief,” continued Rep. Lankford. “Federal regulators should not stand in the way of honest, hardworking businesses and their ability to infuse capital back into the market. We need long-term job growth, not government stimulus, short-term, pseudo-fixes for growing the rate of employment and putting a restless nation back to work,” concluded Lankford.

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Contact: Kelly Ferguson 202.225.2132