[Congressional Record Volume 150, Number 28 (Monday, March 8, 2004)]
[Extensions of Remarks]
[Page E315]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          JOBS AND THE ECONOMY

                                 ______
                                 

                             HON. JOE BACA

                             of california

                    in the house of representatives

                         Monday, March 8, 2004

  Mr. BACA. Mr. Speaker, the current unemployment rate is too high, 
especially for Hispanics and African Americans.
  President Bush has overseen the disappearance of a record 2.9 million 
private sector jobs since 2001. The overall unemployment rate has 
stalled at 5.6 percent. It would be even higher if it included 1.7 
million Americans who are no longer searching for employment.
  The Hispanic rate rose from 6.6 percent to 7.4 percent. The 
manufacturing sector shed 2.8 million jobs in 3 years, job losses that 
disproportionately hurt Hispanics.
  Last month, President Bush predicted 2.6 million jobs would be 
created in 2004. But how can we trust him? His own advisers did not 
stand by his predictions. The administration later stated that they 
overestimated the number of jobs the President would create.
  The President's predictions are continually wrong. In 2002, he 
predicted 3 million jobs would be created in 2003. As the residents of 
the Inland Empire know all too well, those 3 million jobs never 
materialized.
  The administration still does not get it. They claimed that letting 
manufacturing jobs move to China is good for the economy. They claimed 
that what is needed are cuts to Social Security and Medicare instead of 
rescinding the tax cuts to wealthy Americans.
  Because of inaction, Hispanics and other minorities are being hit 
hard. We are out of work at higher rates than ever before. Unemployment 
benefits are ending. Food banks and hunger organizations report that 
more people are asking for help.
  We are marching towards a jobless recovery. Corporate profits are 
expected to rise by 17 percent this year, but average wages for those 
who have jobs have fallen. Hispanics and other minorities are 
suffering. No one is hiring. Their benefits are gone, and people do not 
know what to do.
  We need to help the unemployed. We need to give them job training, 
unemployment benefits, and health care. We need to stop the outsourcing 
of jobs overseas.
  Unless Congress and the administration recognize the problems that 
face the American worker, the unemployment rate will rise and our 
economy will not recover.

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