Jobs for June? Not many
But the “official” unemployment rate stayed at 8.2%. The broader measure of unemployment – includes job seekers as well as those in part-time jobs – inched up from 14.8% to 14.9%.
Federal Reserve officials last month lowered their economic-growth projections to between 1.9% and 2.4% this year, and forecast the jobless rate would hold between 8.0% and 8.2%.
That’s not a recovery rate by any means (and given how accurate former predictions have been, I wouldn’t count on the unemployment rate staying as low as 8.2%). But it is the reality of the situation and one that will definitely have an effect on the election. That is if people are reminded of some promises made by the administration. You remember these:
Can you say “utter failure”? Of course you can. As with ObamaCare, the people were sold a bill of goods about the recovery plan. In fact it ended up being a huge political payoff plan while our leaders told us they were focused like lasers on recovery. 4 years later, here we are.
We were supposed to be at 5.6% now, with the stimulus plan enacted.
That was the promise.
Of course, this administration has promised all sorts of things it hasn’t delivered, so I’m sure that their failure here doesn’t necessarily come as a surprise to anyone but the media.