FRONT PAGE CONTRIBUTOR
Obama’s failed policies cause millions of Americans to give up
The April unemployment report brought attention to the millions of Americans suffering in silence as a result of President Obama’s failed economic policies.
The Romney campaign has released a new video “Silence” highlighting the terribly disappointing April unemployment report:
No wonder that during his so-called official start to his reelection campaign, President Obama told Americans not to ask if they are better off than they were four years ago, but how they’ll be tomorrow.
Only 115,000 jobs were added in April, far fewer than the 180,000 economists were expecting. The reason the unemployment rate declined slightly to 8.1 percent and the broader “U-6″ measure remained at 14.5 percent is because 342,000 more people gave up looking for work and quit the labor force.
As Mitt Romney said, “It’s still about the economy…and we’re not stupid.”:
- The unemployment rate has remained above 8 percent for 39 straight months.
- Only 115,000 jobs were created in April, which is the smallest monthly jobs gain in five months. Hiring has now slowed in three straight months.
- The labor force participation rate declined in April to 63.6 percent, which is its lowest level since 1981.
- If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.6% today—the unemployment rate would be 11.1%.
- When President Obama pushed through his $800-billion stimulus bill, his administration claimed unemployment would drop to 5.9 percent by April 2012.
- 22.8 million Americans remain unemployed or underemployed, or are only marginally attached to the workforce.