Less Than 100,000 Jobs Created For The Month Of August, Labor Force Participation Rate Falls To Lowest Point In 31 Years

Nearly four years ago, liberal Congressman Martin Heinrich rammed an $825 billion stimulus into law that was supposed to “create or save” 22,000 jobs in New Mexico, yet today’s jobs report reiterates that his failed economic policies are not working.

As the Wall Street Journal reports:

JOB GROWTH SLOWS SHARPLY IN AUGUST: Job growth slowed sharply in August, the Labor Department said Friday. Total nonfarm payrolls increased by 96,000, lower than the 125,000 gain expected by Wall Street economists.  Adding to the sense of weakness, job growth in the past two months were revised down by 41,000.  The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force.  Economists forecast the unemployment rate to hold steady at 8.3%.  Average hourly earnings were flat at $23.52.  Earnings are up 1.7% in the past year. The average workweek was unchanged at 34.3 hours. (Greg Robb, Job growth slows sharply in August, Wall Street Journal’s Market Watch, 9/7/12)

Notably, according to Heinrich and his fellow Democrats if their policies actually worked the national unemployment rate would be well below 6 percent by now.

“We’ve tried the failed policies of Congressman Heinrich and today’s report is just further proof that his tax-and-spend agenda is not working,” said National Republican Senatorial Committee spokesman Jahan Wilcox.  “Martin Heinrich’s record is wrong for New Mexico and it’s time to send a true bipartisan reformer like Heather Wilson to the Senate.”

BACKGROUND…

Heinrich Promised The Stimulus Would ‘Create Or Save’ 22,000 New Mexico Jobs

CONGRESSMAN MARTIN HEINRICH:  “Congressmen Martin Heinrich, Harry Teague and Ben Ray Luján voted today to get our economy back on track. The New Mexico delegation joined together to vote in favor of the American Recovery and Reinvestment Act, which will provide significant relief for New Mexico, as part of a broader effort to save and create jobs and rebuild the economy. The American Recovery and Reinvestment Act could create or save 22,000 jobs in New Mexico, including 7,700 in the First Congressional District, 7,100 in the Second Congressional District, and 7,500 in the Third Congressional District.”  (Martin Heinrich, New Mexico Delegation Supports American Recovery and Reinvestment Act that Could Create 22,000 Jobs in New Mexico, Press Release, 02/13/09)

And That The Unemployment Rate Today Would Be Less Than 6%