Wall Street got bailed out and is recovering. Where is the promised relief for Main Street?
Today AFL-CIO President Richard Trumka released the following statement today as he tours California discussing the crisis and exploring solutions:
December’s jobs report is an ominous sign of the deep and continued suffering by working families who want to work but can’t find jobs, despite tentative signs of renewed economic growth. The unemployment rate held steady at 10 percent only because 661,000 workers left the labor force altogether. Our nation remains at risk of a double-dip recession as well as long-term wage and job stagnation if Congress and the president fail to act quickly and decisively to create good jobs now.
The number of Americans looking for work for over 6 months remains alarmingly high at 6.1 million. Joblessness among young adults is a dismal 27.1 percent. And the rates among African Americans - at 16.2 percent -- and Hispanics - at 12.9 percent - are especially painful.
It has taken years of financial abuses and corporate giveaways to get us into this deep hole and we will only climb out if we keep our foot on the accelerator. We urge Congress to move quickly to pass emergency legislation. The bill passed by the House in December is a good start.
The AFL-CIO has outlined a five step plan that can be immediately implemented to create or save 4 million jobs. Our plan would extend unemployment, food aid and health care benefits. It would rebuild our crumbling infrastructure and invest in green technology, increase aid to state and local governments, put people to work in distressed communities and hire community banks to lend TARP funds to small businesses.
President Trumka will address the country from the National Press Club on Monday, January 11th with a specific plan for job creation. Here in Wisconsin, you can watch the speech live from www.press.org beginning at noon.
For a full copy of the AFL-CIO five step jobs plan go to: http://www.aflcio.org/createjobs.
Workers can go to www.unemploymentlifeline.com for assistance.(Photo: UAW Local 72 and community members rally in Kenosha, WI. The Kenosha Chrysler Engine Plant serves as a perfect example of how taxpayer funded bailouts have left working people in the lurch. In spite of heavy intervention from the U.S. government, Chrysler plans to close this facility this year. UAW has launched a major campaign to keep the plant open and maintain hundreds of family-supporting jobs. Photo Credit: Sara Wallenfang.)
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