BIRMINGHAM – Commenting on newly released unemployment figures for the state of Alabama, which reflect unemployment growing to a statewide rate of eleven percent, Jeremy Sherer, Democratic candidate for Treasurer, stated, “Today’s newly released unemployment numbers for Alabama are gut-wrenching, and inconsistent with the overly-optimistic view of the present state of Alabama expressed by Governor Riley just last week. The fact that less than one-quarter of Alabama all counties outpace the national unemployment rate is a travesty.”

Continuing, Sherer stated, “Reviewing the county by county unemployment figures paints a particularly unsettling view of the job market in rural areas. Fourteen counties, all of which are predominately rural, have unemployment rates above 15%.

“Only nine of sixty-seven counties showed any reduction in unemployment, and one could assume those few reductions merely represent workers whose unemployment compensation has expired”.

“As a candidate for Treasurer, I view Alabama’s Treasury as one tool which might be utilized as a tool in strengthening the socio-economic environment in metropolitan areas, while being a catalyst in developing new opportunities for entrepreneurial growth in rural areas.”

“First, Alabama’s Treasury must place state deposits and investments with local financial institutions that are putting those funds into the market place – by lending to businesses, consumers, students and entrepreneurs. As a state, we cannot continue to place state tax dollars in out-of-state financial institutions that merely foreclose upon Alabamians, or hoard state deposits while creating negligible impact upon Alabama.”

“Further, Alabama must take action in remedying generational poverty within rural, underserved areas. I do believe the principals of microfinance can assist in this goal. It is entrepreneurial development and the creation of localized small-business economic opportunities, not large industrial developments that will break this cycle of poverty that is persistent in many corners of our state. As Treasurer, I will work to develop the partnerships necessary in creating a system that moves us closer to this goal”.

“I believe that today’s unemployment numbers prove, that our state should be more concerned about ‘will work for food’ signs popping up around our state, rather than ‘BINGO’ signs.”

Please contact Jeremy Faulkner at (205) 446-1342 with any questions.

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