Remember when it was necessary to rush the stimulus to keep the unemployment rate under 8%?
That was then.....this is now:
"The unemployment rate edged up to 9.8 percent in November, and nonfarm payroll employment was little changed (+39,000), the U.S. Bureau of Labor Statistics reported today." (BLS)
When do we admit that the stimulus did not stimulate?
Beyond politics, why is the US economy having such a hard time creating jobs?
The "jobs report" was a major disappointment, specially since so many of us expected a little more employment growth.
We got 39,000 jobs in November. How can 39,000 jobs in a US$ 14 trillion GDP be anything but a massive failure?
We expected a little better because of some recent positive signs, such as the pending home sales (up 10 percent), car sales were up and some retailers reported better-than-expected sales last month.
Overall, a very day for everyone, specially those who are looking for work!
I guess that POLITICO got this headline just right: Barack Obama, economy stuck in a ditch
