Obama Promised 3.5 Million Jobs!
Employers took 2,690 mass layoff actions in August that resulted in the separation of 259,307 workers. The number of mass layoff events in August increased by 533 from the prior month, and the number of associated initial claims increased by 52,516. Over the year, the number of mass layoff events increased by 803, and associated initial claims increased by 70,356. Year-to-date mass layoff events (21,184) and initial claims (2,162,202) both recorded program highs through August. Remember Obama said his 787 billion dollar stimulus plan has saved or created 150,000 jobs in the first 100 days since it cleared Congress. Keep believing Obama and any sitting President will get you a job. Obama promise that his recovery plan will “save or create three to four million jobs over the next two years. Obama’s jobs claims are “based on macroeconomic estimates, not an actual counting of jobs. The expression ‘create or save,’ which has been used regularly by Obama and his economic team, is an act of political word play.
Obama stated he will create 3.5 million jobs and to jump start Job Creation. Look at the facts. Unemployment rates for the major worker groups, adult men (10.3 percent), adult women (7.8 percent), teenagers (25.9 percent), whites (9.0 percent), blacks (15.4 percent), and Hispanics (12.7 percent) showed little change in September. The unemployment rate for Asians was 7.4 percent, not seasonally adjusted. Among the unemployed, the number of job losers and persons who completed temporary jobs rose by 603,000 to 10.4 million in September. The number of long term unemployed rose by 450,000 to 5.4 million. In September, 35.6 percent of unemployed persons were jobless for 27 weeks or more. Average weekly layoff events rose from 285 in August 2008 to 357 in August 2009, and average weekly initial claims increased from 28,000 to 31,256. Seven of the 19 major industry sectors reported program highs in terms of average weekly initial claimants for the month of August: construction; wholesale trade; retail trade; management of companies and enterprises; educational services; arts, entertainment, and recreation; and accommodation and food services.
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