America’s steepest drop in employment in over 30 years shows just how long the road to economic recovery will be. The pain of February’s widespread job losses was felt across virtually every employment sector -- with manufacturing and construction especially hard hit. Unemployment among African American men hit 14.9 percent last month – almost double the level a year ago.

The economy has spiraled into a vicious downward cycle: Workers are losing their jobs and can't maintain their mortgage payments. Housing foreclosures are exacerbating the downward slide in housing prices and tightening credit. Frozen credit markets are forcing firms to lay off more workers.

Our country has a tough path ahead as we work to create jobs, restore the middle class and ensure that our economy works for everyone, once again.

Already President Obama and Congress have shown tremendous leadership by passing the American Recovery and Reinvestment Plan, which will create or save 3.5 million jobs – although even more economic stimulus may still be needed. And the President has begun implementing a program to keep Americans in their homes and stem the damage wrought by the foreclosure crisis.

The manufacturing sector alone shed 168,000 jobs in February, and the construction sector lost 104,000 jobs. The crisis calls for more action to strengthen our manufacturing and jobs base. We must do much more to rebuild our roads, bridges, airports and air traffic control system, mass transit and rail networks, and ports; to expand broadband access to all Americans; to ensure that state governments can continue to provide essential public services; to refurbish and build new schools and to invest in clean energy and modernize our electrical grid and energy-delivery network that are key to an economic revival.

Rebuilding a robust real economy, with good jobs and a strong middle class, also demands attention to health care, education, pensions, climate change and other issues.

Across the country, working men and women are struggling to keep their heads above water. We can’t come up short in helping them, for their sake and for the sake of our communities and our entire economy.

Contact:  Amaya Smith 202-637-5018