Economy

Legislation | Links | Press Releases

As Chair of the Joint Economic Committee, I will continue to aggressively push to address the serious economic crisis our country faces. The Committee will focus on the economic crisis and recession as they unfold, and will be actively involved with crafting our path to recovery.

The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy. As Chair, I am committed to providing an accurate and up to date picture of our economy by holding hearings and releasing reports that review crucial aspects of our nation’s economic policy. Each week, the JEC’s staff prepares the Weekly Economic Digest. The Digest tracks and analyzes the trends of key economic indicators, such as employment, productivity, inflation, retail sales, housing starts, and the financial markets. Members of Congress and others find the digest useful as a quick reference for recent statistics on the economy.

Legislation

02/12/97 - H.RES.92, Expressing the sense of the House of Representatives that the Bureau of Labor Statistics alone should make any adjustments, if any are needed, to the methodology used to determine the Consumer Price Index [105th Congress]

03/09/95 - H.R.1183, Social Security Sanctions Reform Act [104th Congress]

08/06/93 - H.R.2698, Retroactive Income Tax Increase Prohibition Act [103rd Congress]

 

Links

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New York State Division of Military and Naval Affairs

The National Guard Bureau

More on Economy

Jan 29, 2010 Press Release
Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement on the announcement that the real gross domestic product (GDP) increased at a rate of 5.7% in the fourth quarter of 2009:

“Today’s GDP number shows that the recovery which began in the third quarter of 2009 accelerated in the fourth quarter. The economy has now grown for the past six months, providing fresh evidence that the Recovery Act, which Congress passed in February 2009, is working.

Jan 27, 2010 Press Release
Washington, D.C. – A new report released today by the Joint Economic Committee (JEC) provides a snapshot of the current economic climate in each state, offering policy makers easy access to the major economic indicators in all 50 states and the District of Columbia in the areas of jobs, unemployment, personal earnings and housing.
Jan 13, 2010 Press Release
Washington, D.C. – Today, the Government Accountability Office released a report, entitled "Loan Performance and Negative Home Equity in the Nonprime Mortgage Market." The report provides a detailed understanding of the state of the housing market at the end of June 2009. The Chair of the Joint Economic Committee (JEC), Congresswoman Carolyn Maloney, requested the report in an effort to further understand the depth of the recession.
Jan 8, 2010 Press Release

Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement on the Bureau of Labor Statistics’ December jobs report showing that the unemployment rate remained unchanged at 10 percent and 85,000 total nonfarm jobs were lost:

Dec 10, 2009 Press Release

(As prepared for delivery)

For the first time since the recession began two years ago, the labor market appears to have stabilized. After month after month of punishing losses, November’s employment picture was relatively stable. Less than a year ago, job losses were growing more and more severe. Last November, the economy shed 600,000 jobs. Losses increased until January, when they hit a post-Great Depression record of 741,000 jobs lost, the last month that President Bush was in office.

Dec 9, 2009 Press Release

Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee (JEC), gave the following speech on the floor of the U.S. House of Representatives.  

"Madam Speaker, while it’s a bit too early to draw conclusions about the health of the job market after  a single month– a look back at the trends over the past two years can provide some valuable perspective. This chart shows monthly job losses since the start of the recession. The losses began here – in January of 2008, one full year before President Obama took office (Point 1). In February 2008, the Joint Economic Committee issued a report in which we solemnly warned that the economy was on the brink (Point 2). This is September 2008, when the Republican candidate for President declared he thought that the fundamentals of our economy were sound, just before job losses accelerated (Point 3). Here is January of 2009 when President Obama took office, and things began to change (Point 4). Last month, for the first time in two years, job losses appear to have stabilized (Point 5). While one month does not constitute a trend, one election seems to have made quite a difference." 

 Change in Labor Markets over Recession
Dec 4, 2009 Press Release
Washington D.C. – Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement on the Bureau of Labor Statistics November jobs report showing that employment was essentially unchanged and the unemployment rate edged down to 10.0 percent in November:

Oct 15, 2009 Press Release
New York, NY – Congresswoman Carolyn B. Maloney (D-NY), Chair of the Joint Economic Committee, issued the following statement regarding the New York State Labor Department’s September 2009 state employment data. The data showed that New York State’s unemployment rate remained at 8.9 percent in September.
Sep 22, 2009 Press Release

WASHINGTON, DC – Rep. Carolyn Maloney (D-NY) released the following statement after the House passed legislation to provide up to 13 additional weeks of unemployment benefits to workers in high unemployment states:

Sep 17, 2009 Press Release
WASHINGTON, DC – With newspapers across the country facing down cutbacks, closures or bankruptcy at an alarming rate, Rep. Carolyn Maloney (D-NY) and Sen. Ben Cardin (D-MD) have introduced the “Newspaper Revitalization Act of 2009” (H.R. 3602 and S. 673) legislation that would help community and metropolitan papers by allowing them to become non-profit 501(c)(3) organizations similar to public broadcasting.

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