WORST. JOBS. PRESIDENT. EVER. August Unemployment Rate Rises to 9.6%
They wanted to fundamentally change America. They did.
The US unemployment rate has not fallen below 10.8 percent in the last
12 14 months according to the Center for Economic and Policy Research. This is unprecedented.
From November 2008, the month he was elected, until now, the economy has shed more than an astonishing 4.4 million jobs. That’s worse than Hoover.
The AP reported:
Private employers hired more workers over the past three month than first thought, lifting hopes for the weak economy. But the unemployment rate rose in August for the first time in four months as more people entered the market looking for work.
Companies added a net total of 67,000 new jobs last month and both July and June’s private-sector job figures were upwardly revised, the Labor Department said Friday.
Stock futures surged after the report was released. Wall Street analysts expected a smaller gain, according to Thomson Reuters.
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. For the first time this year, the manufacturing sector lost jobs — down a net total of 27,000 for the month. State and local governments shed 10,000 positions.
It’s probably a good thing Romer bailed out when she did.
Remember: Obama told NBC: “I expect to be held accountable.”
UPDATE: BB sends the latest chart showing the actual jobs lost compared to the predicted losses by Team O after the Trillion dollar stimulus was passed.