Carolyn Maloney: “The Joint Economic Committee, which I chair, has just released a report entitled ``Understanding the Economy, State by…”

“The Joint Economic Committee, which I chair, has just released a report entitled ``Understanding the Economy, State by State.'' The report provides quick and easy access to the major economic indicators for all 50 States in the areas of jobs, unemployment, personal earnings, and housing. It paints a by-the-numbers picture of the current economic reality in each of our 50 States. Every picture tells a story that is at once both informative and sobering. The report captures the enormity of the economic damage caused by the Great Recession that began in December of 2007, while making clear that the United States economy has improved and begun to grow since the Bush administration left office. And this shows that the last month the Bush administration was in office this country lost over 750,000 jobs. Nationally, there has been a substantial decrease in the rate of job losses. The economy started losing jobs in January of 2008, increasing at a rapid rate throughout the year. The average quarterly job loss has now declined from a staggering 691,000 jobs lost per month in the first quarter of 2009 to 69,000 jobs in the most recent quarter, yet even that number is unacceptable.”