Recovery. What Recovery?

Inquiring minds want to know: Why does the Obama administration insist we are in “economic recovery” when there are no signs we are?
The jobless rate rose to its highest level last month since April, at 9.8%. (Real unemployment rate is higher, in double digits.) I’m not a Bush fan, but Obamabot “Bird no doubt will still say it’s George W.’s fault!

Luca Dileo and Jeffrey Sparshott of the World Street Journal reports today, December 3, 2010:

WASHINGTON—The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, indicating the economic recovery remains weak 17 months after the recession ended….
The unemployment rate, which is obtained from a separate household survey, unexpectedly rose to 9.8% last month. More than 15 million people seeking work can’t get a job….
The U.S. unemployment rate has now been above 9% since May 2009, or 19 months. That matches the longest stretch at such an elevated level since World War II. In the deep recession of the early 1980s, the jobless rate crept to 9% in March 1982 and remained above that mark until September 1983.
Federal Reserve officials believe the jobless rate could still be around 9% a year from now….
The report showed 41.9% of unemployed Americans, or 6.3 million people, were out of work for more than six months in November. The longer someone is without a job, the harder it is to find work.

Read the rest of the article HERE.

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9 years ago

Yes, when’s it going to start? Last June? Will there be another one coming along any time soon?

9 years ago

Yes, there is no economic recovery! What a farce and a hoax! And the jobs that Obama did create were 430,000 jobs that involved the federal census, not in the private sector! And the liberal media continue to make dishonest comments about the economy! Sickening!

9 years ago

As I have been saying for the last 20 months, there will be no economic recovery in America until the Kenyan impostor has been run off, his hideous policies reversed in their entirety (along with a bunch that were in place before he got here).
We are being crushed to death by federal tax policies and out-of-control government regulation.

9 years ago

While jobs are the main issue those clowns in DC focus on food safety and tv commercials…IDIOTS!