Unemployment Remains Stuck at 8.2%

by Ryan on July 6, 2012

in Economy,Election 2012,Health Care,Politics

Today’s June jobs report seemed redundant:  only 80,000 jobs added (a full one-third of those are temporary) as the unemployment rate held steady at 8.2%.  The infamous U6 number went up a tenth of a percent to 14.9%.  It takes about 150,000 new jobs per month just to keep pace with population growth.  Plus, the average monthly job growth in the first quarter of the year was about 226,000, compared with a measly 75,000 for the second quarter.  At that rate the economy might be contracting by Election Day (even fellow Keynesian FDR had to deal with a recession within the Depression).

While the Romney campaign has been pretty good thus far, this past week’s major ball-drop on Obamacare exposed his flip-flopping tendencies and that his campaign, for some reason, is playing “prevent” defense against an administration with so many targets.  Romney needs to be strong and specific about the failures of Obamanomics and how Obamacare will only exacerbate our already existing economic travails.

Obviously in need of competency lately, Romney’s campaign can use this spectacular chart from the American Enterprise Institute if it helps bring home the point about Obama’s failed record and broken promises on the economy.  June’s job report only serves to help Romney, should he wish to engage in specifics.

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