More people gave up looking for work in Sept. causing the US unemployment rate to dip to 7.8 percent. The unemployment rate has hovered near 8 percent during Obama’s entire term up until last month. The President promised a 5.6 percent unemployment rate by this time in his administration.
The growth of the US population requires the creation of 150,000 to 200,000 jobs per month to hold unemployment steady. In Sept., only 114,000 jobs were created, which means we continue to fall behind in creating jobs. At the current rate of job creation, we might not hit full employment (4 percent unemployment) for at least another 4 years if we are mired in another Obama administration.
The current administration has done a terrible job with the economy. We have 23 million Americans underemployed/unemployed, and only 58 percent of the working-age population is currently employed compared to 63 percent in 2008 before Obama became president. Americans on food stamps have increased by 15 million in the past four years. And the national debt has gone from $10 trillion to $16 trillion under Obama.
We are in worse shape now than we were when Obama took office, and we cannot afford to continue these failed economic policies.
Donald A. Moskowitz