12.5 Million Unemployed in U.S., Under 100,000 New Jobs Created in August, Labor Force Participation At 31 Year Low, Unemployment Still Over 8%
PHOENIX – When the Obama Administration decided to spend $825 billion on a stimulus plan at the beginning of the President's term almost four years ago, the promise made at the time was that it would "create or save" 3.5 million jobs. But today’s jobs report, issued by the federal government, shows that promise has been broken and the failed economic policies of President Barack Obama, who recruited Democrat Richard Carmona to run for U.S. Senate, are still not working - especially for Arizona.
Arizona is especially hard-hit by these failed policies, because the unemployment rate among Hispanics is two points higher than average, at 10.2%, and 30% of Arizona's population is Hispanic.
Unemployment nationally was supposed to be under 6% under President Obama's stimulus, yet still remains above 8%.
As the Wall Street Journal reports:
JOB GROWTH SLOWS SHARPLY IN AUGUST: Job growth slowed sharply in August, the Labor Department said Friday. Total nonfarm payrolls increased by 96,000, lower than the 125,000 gain expected by Wall Street economists. Adding to the sense of weakness, job growth in the past two months were revised down by 41,000. The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force. Economists forecast the unemployment rate to hold steady at 8.3%. Average hourly earnings were flat at $23.52. Earnings are up 1.7% in the past year. The average workweek was unchanged at 34.3 hours. (Greg Robb, Job growth slows sharply in August, Wall Street Journal’s Market Watch, 9/7/12)
"President Obama and Democrats like Richard "Rubberstamp" Carmona have not only pushed policies that failed to improve our economy, they've ended up hurting Arizona disproportionately,” said Arizona Republican Party Spokesman Tim Sifert. "Our country sorely needs change in leadership, not just in the White House but in the U.S. Senate - a change that will revive our economy, move us away from high taxes and burdensome regulations - and Arizona can help do that by electing Jeff Flake to the U.S. Senate.”
President Obama Promised The Stimulus Would ‘Create Or Save’ 3.5 Million Jobs
ASSOCIATED PRESS: The Obama administration is defending its claim that the $787 billion economic stimulus plan will save or create 3.5 million jobs before 2011 even while conceding that unemployment will likely continue to rise beyond its earlier predictions. (Stimulus plan will create or save 3.5 million jobs, White House says, Associated Press, 05/11/09)
And That The Unemployment Rate Today Would Be Less Than 6%
#richardcarmona #azsen #jobs #obamanomics