"Chairwoman Velázquez on February Jobs Report"
Summary
A press statement dated March 6, 2020 from House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY), issued after the Labor Department released its February jobs report. Velázquez says she fears the report represents the calm before the storm and that small firms in areas affected by the coronavirus face closed workplaces, lower consumer demand and disrupted supply chains. She states that Congress passed an emergency supplemental that included her provisions to grant Small Business Administration disaster loans to small businesses affected by the virus. The statement says the Committee will hold a hearing the following Tuesday on how small businesses are faring and calls for a coordinated government effort to avoid a recession.
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Chairwoman Velázquez on February Jobs Report March 6, 2020 Washington, D.C.— Today, House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY) issued the following statement after the Labor Department released its February jobs statement: “I fear that February’s job report represents the calm before the storm for America’s small businesses and our economy. As the coronavirus spreads, small firms in impacted areas are already hurting as they experience closed workplaces, lower consumer demand, and disrupted supply chains. “Small businesses serve as the backbone of our communities, and a health crisis like this can cause damage akin to a natural disaster. That is why Congress passed an emergency supplemental, which included my provisions to grant Small Business Administration disaster loans to small businesses impacted by the spread of the virus. While this was a positive step, the Committee will also take action by holding a hearing Tuesday next week to examine how small businesses are faring and the potentially devastating economic consequences of this public health emergency. “To respond to the severity of this virus, we need a coordinated government effort that prioritizes the health and safety of the American people, helps small businesses plan for economic uncertainty, and puts the economy on a path to avoid a recession.”
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