Manufacturers: The Fiscal Cliff a Driving Force of Dismal Jobs Report

07/06/12 -  National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement after the Bureau of Labor Statistics released today’s jobs report indicating a third straight month of weak job growth:

“Manufacturers have led the nascent economic recovery to date, but it’s clear that employers, including manufacturers, aren’t pleased with Washington’s lack of action to implement pro-growth policies. The national unemployment rate remains stuck at a dismally high 8.2 percent, and economic growth is shrinking. Today’s report is not surprising—as we careen toward the fiscal cliff created by sequestration, taxmageddon, regulatory overreach, entitlement burdens and overall uncertainty, too many employers are focused on simply staying above water.

In a recent survey, 64 percent of manufacturers called the ongoing, unfavorable business climate as their biggest challenge. Congress and the Administration’s inaction has led us to a fiscal cliff, and any further delay in forcefully dealing with the problem will only worsen the economic fallout that the United States is facing. Policymakers need to meet their responsibilities to the nation, enact pro-growth tax policies and take on the entitlement programs that are sapping our ability to grow. Manufacturers have led the beginnings of our economic recovery, and it’s time for Washington to provide the leadership necessary to ensure our economy does not fall off the impending fiscal cliff.”