Governor Rendell Says Action Needed Now To Stem Job Loss And Boost Economy

Calls On General Assembly to Approve Economic Stimulus Proposals

Harrisburg, PA  (CompNewsNetwork) - Pennsylvania Governor Edward G. Rendell said today that the state’s economy has been growing stronger for the past five years, but the February job statistics are the first sign that the national economic slow down might affect Pennsylvania.
 
“Until now, our economy has been in great shape,” Governor Rendell said. “As recently as January we had more jobs than any time in history. But, last month the job count1 dropped and the unemployment rate2 rose slightly, indicating immediate action is needed to lessen the effects of a sagging national economy.”
 
Over the past month, the number of jobs declined by 8,000 for a total of 5,803,700 in February, and the state’s unemployment rate increased to 4.9 percent.
 
“This is the first indicator that the weakening national economy is beginning to take a toll in Pennsylvania” Governor Rendell said. “We cannot continue a wait-and-see approach. If we don’t act now to stimulate Pennsylvania’s economy, our workers, businesses and communities could be dragged down by the national economy.
 
“Today’s U.S. Labor Department report that the number of newly laid off workers filing for unemployment benefits nationally rose last week to the highest level in nearly two months. This is more evidence that the nation’s weak economy is having an adverse impact on workers.
 
“We have an opportunity to act now to avoid economic disaster in Pennsylvania by stopping the business-as-usual approach that too often pushes important final legislative action into the summer,” Governor Rendell said. “There is no reason to delay.
 
“The General Assembly must act on our economic stimulus initiatives to protect the prosperity we have enjoyed for more than five years. Pennsylvania needs an immediate job creation strategy,” the Governor said.
 
For more information on Governor Rendell’s economic stimulus proposals before the legislature, visit: www.pa.gov.

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