Top Obama Official: Record Unemployment Not Coming Down Anytime Soon
New chairman of the Council of Economic Affairs (CEA), Austan Goolsbee, told FOX News today that the record Obama unemployment rate is not likely to come down anytime soon.
The Hill reported:
President Obama’s new chairman of the Council of Economic Affairs (CEA) said Sunday that the national unemployment rate will not decrease significantly anytime soon.
Austan Goolsbee, who Obama announced on Friday will replace Christina Romer as head of the CEA, told “Fox News Sunday” that the president is doing all he can to help the economy, but the recession was so deep, it will take some time for employment numbers to recover.
“I don’t think the unemployment rate will be coming down significantly at any time in the near future,” Goolsbee said.
Unemployment for the nation reached 9.6 percent in August, and Goolsbee and other White House officials regularly concede they expect it to get worse before it gets better.