October 5, 2012
Bill Clinton In 1992: "7.3% Unemployment Under H.W. Bush Is the 'Worst Economic Record in 50 Years'" (Video)Topics: Political News and commentaries
In the context of today's almost magical BLS report of a sudden drop from 8.1% to 7.8%, this ad makes Barack Obama's economic record ... the worst in 70 years - per Bill Clinton!
The shrunken workforce remains shrunken. If the labor force participation rate was the same as when President Obama took office, the unemployment rate would be 10.7%. If the participation rate had just stayed steady since the start of the year, the unemployment rate would be 8.4% vs. 8.3%...Related: Reactions to Obama's New Jobs Report: Widespread Distrust and Skepticism
The 114,000 jobs created would have been a good number ... but for 1962, not 2012. The U.S. economy needs 2-3 times that number every month to close the jobs gap (which is the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the labor force each month.)...
We are still on pace to create fewer jobs this year than last year.
Posted by Hyscience at October 5, 2012 12:19 PM
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- Bill Clinton In 1992: "7.3% Unemployment Under H.W. Bush Is the 'Worst Economic Record in 50 Years'" (Video) - Oct 05, 2012