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1.9 Million Fewer Americans Have Jobs Today Than When Obama Signed Stimulus


Geee

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CNSnews:

(CNSNews.com) – Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed.

In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of May 2011 – the last month for which data are available – that number had fallen to 139.8 million, a difference of 1.9 million.

While the number of people with jobs has increased slightly from its low point during the recession – 137.9 million in December 2009 – those 1.9 million jobs have been lost despite $800 billion in stimulus spending.

This does not mean that the economy is not creating jobs, but rather that it is not creating jobs fast enough to keep up with a combination of layoffs and people entering the job market for the first time.

In a Washington Post op-ed, former White House chief economist Larry Summers noted that the percentage of the population that has a job has not improved, even though the economy is technically in recovery.

“From the first quarter of 2006 to the first quarter of 2011, the U.S. economy’s growth rate averaged less than 1 percent a year,” Summers wrote. “The fraction of the population working remains almost exactly at its recession trough, and recent reports suggest that growth is slowing.”

The fraction of the population with a job has in fact fallen in the 28 months since Congress passed the stimulus – down from 60.3 percent in February 2009 to 58.4 percent in May 2011.snip
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1,900,000 Fewer Americans with Jobs

 

Geee!

 

Why did you post this article using actual facts and numbers... rather than subjective percentages which can be manipulated by changing numerators and denominators (the definitions of which are not known or understood by the masses).

 

I call... Personal Foul... Not Fair... Unsportsmanlike Conduct... Piling On... Cheater-Cheater-Pumpkin-Eater!

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