The Labor Department released the latest August jobs report after the Democratic Convention indicating how out of touch President Obama and the Democrats are in creating jobs, job growth, and propelling economic growth. The new report according to the Labor Department indicates only 96,000 jobs were created in August a telling sign that the entire nation is headed for an even deeper decline if Obama is re-elected for a second term.
According to the report the 96,000 jobs failed lower than the previous month’s July’s totals nearly 117,000 jobs created far short of what’s needed to be considered a chance for economic recovery. Obama promised during the 2008 campaign that the unemployment rate would fall. He has yet to keep any of his promise to right the sinking economic ship.
President Obama will face in the November election what no other former U.S. President has faced. No president has ever been re-elected to a second term with an unemployment rate higher than 8%. According to CNN, no other president has won another term since Franklin D. Roosevelt. Under Roosevelt, Unemployment was the lengthiest, most extensive, and deepest depression of the 20th century as unemployment escalatedto 25%.
Republican presidential challenger Mitt Romney stated it clearly. “Are you better off today than you were four years ago?” No, because jobs are not being created fast enough for Americans to feel some sort of financial relief. Simply no jobs no spending. That is what this job reports indicates.
The 96,000 new jobs is nowhere near any indication that the economy was recovering supportsmore evidence that this current administration’seconomic policies cannot continue with the middle class struggling to make mortgage, car, and insurance payments the basic necessities of survival.
Each month since the Labor Department releases its jobs reports the White House continues to repeat “that more needs to be done to bring down the Unemployment rate.” This past July the Council of Economic Advisors, askedboth Congressional parties to support a number ofeconomic actions, extension, payroll tax, and unemployment benefits.
The latest report from the Council of Economic Advisers for August job rate, again more “work needs to be done” sounds as if the White House is searching for solutions with no means to an end in sight to bring down the unemployment rate, create jobs and job growth.
Former president Bill Clinton summed it best during the Democratic Convention. “If Obama is re-elected, you will feel it.” Clinton is correct. Four more years of failed policies, voters will elect new leadership come November?
The opinion expressed in this commentary
Article is solely those of Michael Coker