Statement from State Democratic Chair Jay Jacobs

BLOOMBERG’S FAILED ECONOMIC PLAN:

UNEMPLOYMENT UP AND HEADING HIGHER,

WORKING FAMILY INCOME DOWN AND STILL DECLINING

New York – On his watch, unemployment rose to 10.3 percent in August and hard working families continued to see their wages decrease.  The real median hourly wage declined and thousands of workers have seen their hours cut at work, and if already unemployed, have given up their search for employment.

At the same time New York City has become increasingly dependent on the financial services industry to drive its economy and during the recent economic expansion as the number high-paying jobs increased – so did the number of low-paying jobs with no benefits – with very few new jobs being created for the working middle class.

“Working Families in New Yorker City cannot afford 4 more years of failed economic policies – policies designed to help the affluent and further penalize the hard working people of New York.  Mayor Bloomberg has turned a deaf ear to the growing chorus of those who are unemployed, uninsured and can’t cover their monthly expenses,” said Jay Jacobs, New York State Committee Chair.

“As City Comptroller, Bill Thompson has been a strong advocate for working families and as Mayor, I know that he will work even harder, during this economic crisis, to turn the economy around and put New Yorkers back to work.”  Jacobs added.

As Mayor, Bill Thompson will:

·                   Work to increase the number of small businesses and independent workers – the key to innovation, economic diversification and job creation.

·                   Fund training programs to ensure New Yorkers have the skills they will need to hold onto their jobs, earn a living wage and move up the career ladder.

·                   Make the creation of more long-term, living wage jobs priority #1. Thompson will work in collaboration with community and business partners, creating industry advisory councils and using economic and labor market analysis to direct limited public development resources, build a growth economy and identify and support the sectors that have the greatest potential to create new jobs – as soon as possible – for the working men and women of New York City.

Contact: Edgar Santana, 212-725-8825 / press@nydems.org.

www.nydems.org

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