Thanks Barack – Thanks Nancy – Thanks Harry
(Source: US Misery Index)
And, it only took him 18 months… Another record!
Barack Obama is the worst jobs president since the Great Depression and possibly is the worst jobs president in US History. The US unemployment rate has not fallen below 10.8 percent in the last 12 months. This is unprecedented.
Common Dreams reported:
As the nation contends with a long and sustained labor market recession, a new study from the Center for Economic and Policy Research demonstrates that the current unemployment rate is higher than the conventional measure shows.”An unemployment rate that has hovered above 9 percent for several months is striking, but the jobs picture is even worse than it looks,” said report author and CEPR Economist David Rosnick.
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The study, “The Adult Recession: Age-Adjusted Unemployment at Post-War Highs,” adjusts the current unemployment rate to account for demographic differences and finds that the unemployment rate has not fallen below 10.8 percent in the last 12 months. During the worst episode of the recession of the 1980s — the second half of 1982 and the first half of 1983 — unemployment passed 10 percent for 7 months.
Don’t expect to see this on the nightly news.
Today Treasury Secretary Timothy Geithner announced that the U.S. unemployment rate could rise for two months before it drops.