HARRISBURG – Gov. Edward G. Rendell said that despite Pennsylvania’s unemployment rate1 dropping to 4.9 percent in March, the commonwealth lost 2,900 jobs, indicating legislative action is needed to stabilize the economy.
“This is the second consecutive month we’ve lost thousands of jobs,” Rendell said. “While our unemployment rate is better than the national average, losing 2,900 jobs2 shows that the national economic downturn threatens the prosperity Pennsylvania businesses, workers and communities have enjoyed.
“Every day that the General Assembly delays action on economic stimulus is another day our residents are vulnerable to the national economic turmoil. To change the direction of our economy, our General Assembly must stand up for workers and businesses by passing the economic stimulus plan now.”
Pennsylvania lost 8,800 jobs in February.
“Our targeted, strategic economic investments have helped Pennsylvania prosper and they have minimized the effects of the growing economic downturn being felt throughout the nation,” he said. “We have two choices now: wait and hope we can weather the economic storm; or pass legislation approving the economic stimulus initiatives I proposed in February to protect our prosperity.
“Financial indicators are showing more signs that the nation is headed towards a recession and we have a responsibility to let our citizens know that state government is doing everything possible to keep them working,” Rendell said. “Nationally, there are high job losses, and the highest number of initial unemployment claims filed since the tragedy of Hurricane Katrina. While we can’t control a natural disaster, we can do something about the situation that faces us now.
“My economic stimulus initiatives will invest in long-term assets that will build prosperous communities we can pass on to our children and create jobs now,” the governor said.
Among the economic stimulus initiatives awaiting legislative action:
• Putting Pennsylvanians to work on more than $1.5 billion worth of shovel-ready projects by authorizing $750 million in new capital spending through the Redevelopment Assistance Capital Program;
• Creating 13,000 new jobs through the Energy Independence Strategy which leverages $3.5 billion in private funding with the investment of $850 million; and
• Building the commonwealth’s capacity for health sciences research through the Jonas Salk Legacy Fund.
“We need legislative action now to stimulate job growth and lessen the affects of the national economy,” Rendell said. “We need to think about the future and the well-being of our workers, businesses and families. My economic stimulus package promotes job creation and boosts the economy.”
