Following the report that only 80,000 new jobs were created in June, the U.S. Chamber of Commerce’s Chief Economist, Dr. Martin Regalia, issued the following statement:

“Today’s employment report should serve as a clear reminder that the pace of economic growth must accelerate if we are to see sustained improvements in the labor market.

“The global economy is in a precarious position and our current policies are not meeting our fiscal challenges. In order to alleviate some of the uncertainty businesses are feeling, we must put aside differences and act in the nation’s best interest to address these issues. We must address the fiscal cliff while agreeing on a plan to substantially reduce our long-term budget deficits, ease the burden of regulations on our nation’s entrepreneurs, and expand our trading agreements around the globe.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.