All fast facts for Jobs & Economy are from the non-partisan Congressional Budget Office (CBO) and Bureau of Labor Statistics (BLS). They do not represent all of their reports on this subject. Some simply provide historical perspective. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement. As always, verify and view statements in their full context as often as possible.
|On March 9, 2002, the President signed into law the Job Creation and Worker Assistant Act of 2002 (Public Law 107-147), commonly known as the economic stimulus package. The major provisions of that law provide tax relief for businesses and extend unemployment benefits. Click here to verify at Page 2|
|Regional and state unemployment rates were little changed in March 2012. Thirty states recorded unemployment rate decreases, 8 states posted rate increases, and 12 states and the District of Columbia had no change. Forty nine states and the District of Columbia registered unemployment rate decreases from a year earlier, while New York experienced an increase. Click here to verify http://www.bls.gov/news.release/laus.nr0.htm|
|In October of 2011, 42 percent of workers who were unemployed had been out of work for more than 26 weeks and about 30 percent for a year or more – rates of long-term unemployment that are unprecedented in the period following World War II. Click here to verify at Page 13|
|a large portion of the economic and human costs of the recession and slow recovery remains ahead. In mid-2011, according to CBO’s estimates, the economy was only about halfway through the cumulative shortfall in output relative to its potential level that will result from the recession and the weak recovery. Click here to verify at Page 12|
|Economic forecasts are always subject to a considerable degree of uncertainty, but the current uncertainty surrounding the economic outlook is especially great because the present business cycle has been unusual in a variety of ways. Click here to verify at Page 16|