Unemployment Rate Jumps To 9.7%
By Wyatt Earp | September 5, 2009
Change!
Remember when President Obama told us that the Porkulus Plan would create and/or save jobs? Eh, not so much. Unemployment is now at 9.7%, and all signs of recovery are missing in action. Ed Morrissey spills the milk:
Consider this a part of Barack Obama’s August horribilis. The White House desperately needed good news on the employment front after spending the last five weeks getting hammered by angry constituents in almost every Congressional district in the US, and especially after Joe Biden spent yesterday bragging about the economic policies of the administration. :
U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high, the government said on Friday in a report showing a still fragile labor market.
The Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. The department revised job losses for June and July to show 49,000 more jobs lost than previously reported.
49,000 more jobs lost? Oh, that’s just swell. Looks like Obamonomics is now a dirty word.
We’re still cresting, only far above what Christine Romer and Barack Obama used as a scare tactic to get the cash, and much farther above what they promised from their top-down economic policies. It’s not getting better at all, despite Joe Biden’s blathering. The problem is getting worse, and it will continue to worsen as government eats up capital that could have gone to job creation.
Things are bad all over, and in Philly, Mayor Squidward is ready to unveil his “Doomsday Plan,” which would see almost 3,000 city workers laid off, including 1,000 police officers and 200 firefighters.
But by all means, fellow citizens – keep electing Democrats to run this town.
Topics: Politics | 3 Comments »
September 5th, 2009 at 8:49 am
Don’t worry, this time next year they’ll all be at work in the windmill factories that are going to spring up all over the country, thanks to our “Green Jobs Czar.”
September 5th, 2009 at 2:08 pm
It will sadly get worse.
September 5th, 2009 at 10:51 pm
John D – And we all see how well that worked out for T. Boone Pickens . . .
Rick – Luckily for me, I am pretty much recession-proof.