U.S. Chamber’s Regalia Comments on July Jobs Numbers ‘Policies that have increased taxes, increased regulation, and increased uncertainty have clearly not been a prescription for returning America to work,’ Chief Economist Says

WASHINGTON, D.C.—Dr. Martin Regalia, chief economist for the U.S. Chamber of Commerce, issued the following statement on the July jobs numbers:

“While the private sector continued to add jobs at a paltry rate in July, the numbers were clearly insufficient to drive the unemployment rate down or to reemploy those workers displaced during the recent downturn.

“With only 71,000 net new private sector jobs created in July and downward revisions to the last two months, the economy is creating only 90,000 jobs per month this year. This number doesn’t even cover the new entrants into the workforce. The unemployment rate held constant at 9.5%.

“Policies that have increased taxes, increased regulation, and increased uncertainty have clearly not been a prescription for returning America to work.”

Last year Regalia was named one of the top 10 economists in the nation by USA Today.

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.